The balance sheet of Cattleman's Steakhouse shows assets of $86,500 and liabilities of $15,000. The fair value

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The balance sheet of Cattleman's Steakhouse shows assets of $86,500 and liabilities of $15,000. The fair value of the assets is $90,300 and the fair value of its liabilities is $15,000. Longhorn paid Cattleman's $82,620 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of:

Multiple Choice

$3,880.
$11,200.
$11,120.
$7,320.

Posted Date: Jun 01, 2024 10:07 PM

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The balance sheet of Cattleman's Steakhouse shows assets of $86,500 and liabilities of $15,000. The fair value

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