Question
The balance sheet of Flo's Restaurant showed total assets of $560,000, liabilities of $184,000 and equity of $426,000. An appraiser estimated the fair value of
The balance sheet of Flo's Restaurant showed total assets of $560,000, liabilities of $184,000 and equity of $426,000. An appraiser estimated the fair value of the restaurant assets at $665,000. If Alice Company pays $905,000 cash for the restaurant the amount of goodwill acquired would be:
rev: 04_04_2017_QC_CS-84845
$240,000.
$345,000.
$479,000.
$424,000.
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
