R Chapter 10, Problem 26E 2 Bookmarks Show all steps: ON ? Problem Measuring and recording goodwill Princeton has acquired several other companies. Assume that Princeton purchased Kelleher for $9,000,000 cash. The book value of Kelleher's assets is $19,000,000 (market value, $20,000,000), and it has liabilities of $12,000,000 (market value, $12,000,000). Requirements 1. Compute the cost of the goodwill purchased by Princeton. 2. Record the purchase of Kelleher by Princeton. Step-by-step solution