Question
On March 31, 2021, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $17,600,000 in cash. The book values and fair
On March 31, 2021, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $17,600,000 in cash. The book values and fair values of Barneys assets and liabilities were as follows:
| Book Value | Fair Value | |||||
| Current assets | $ | 6,600,000 | $ | 8,100,000 | ||
| Property, plant, and equipment | 11,600,000 | 14,600,000 | ||||
| Other assets | 1,060,000 | 1,560,000 | ||||
| Current liabilities | 4,600,000 | 4,600,000 | ||||
| Long-term liabilities | 6,600,000 | 6,100,000 | ||||
Required: Calculate the amount paid for goodwill.
GOODWILL?
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Forensic Accounting And Fraud Investigation For Non-Experts
Authors: Stephen Pedneault, Frank Rudewicz, Howard Silverstone, Michael Sheetz
3rd Edition
0470879599, 9780470879597
