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Queen Co. purchased the net assets of Maeve, Inc. for $300,000 in cash directly from Maeve, Inc. Maeve, Inc. had total assets with a BV
Queen Co. purchased the net assets of Maeve, Inc. for $300,000 in cash directly from Maeve, Inc. Maeve, Inc. had total assets with a BV of $500,000 and a FMV of $400,000, and total liabilities with both a BV and FMV of $300,000. The amount of goodwill Queen Co. will recognize upon booking this transaction will be:
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