Question: On June 1 2014 Kappa Company acquired all of the

On June 1, 2014, Kappa Company acquired all of the net assets of Delta Company for $ 120,000 cash. The statements of financial position for both companies prior to the acquisition follow:
Required:
1. How much goodwill was involved in this merger? Show computations.
2. Record the merger by Kappa Company on June 1, 2014.
3. Prepare a consolidated statement of financial position immediately after the acquisition.

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  • CreatedAugust 04, 2015
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