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RO, LLP purchases Daley Inc. for $970,000 cash on January 1, 2020. The book value of Daley Company's net assets, as reflected on its December
RO, LLP purchases Daley Inc. for $970,000 cash on January 1, 2020. The book value of Daley Company's net assets, as reflected on its December 31, 2019 statement of financial position is $730,000. An analysis by RO, LLP on December 31, 2019 indicates that the fair value of Daley's tangible assets exceeded the book value by $90,000. How much goodwill should be recognized by RO, LLP when recording the purchase of Daley Inc.? $ 66.66 Use sign for negative amount, as needed. Use commas and decimal, as needed
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