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The balance sheet of Cattleman's Steakhouse shows assets of $109,200 and liabilities of $34,000. The fair value of the assets is $118,500 and the fair
- The balance sheet of Cattleman's Steakhouse shows assets of $109,200 and liabilities of $34,000. The fair value of the assets is $118,500 and the fair value of its liabilities is $34,000. Longhorn paid Cattleman's $152.000 to acquire all of its assets and liabilities. Longhorn should record goodwill on this
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