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Problem Goodwill Geragos Corporation acquired 100% of the outstanding stock of Hunter Inc on July 1, 2021, paying $1,200 in cash. The book value and

Problem Goodwill

Geragos Corporation acquired 100% of the outstanding stock of Hunter Inc on July 1, 2021, paying $1,200 in cash. The book value and fair value of the assets and liabilities of Hunter on the date of acquisition are listed below.

Book Value Fair Value
Accounts Receivable $200 $185
Inventory 160 160

Trademark

 0 70
Property, Plant & Equipment, net 400 650
Accounts Payable 90 90
Notes Payable 160 160

Required: Calculate the goodwill recorded, if any, as a result of the acquisition. Show your work for partial credit.

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