Parent Corporation purchased all of the assets and liabilities of Sub Corporation for $ 800,000. The following

Question:

Parent purchased all of the assets and liabilities of Sub for $ 800,000. The following assets and liabilities were purchased:

Parent Corporation purchased all of the assets and liabilities of

Required:
What is the appropriate amount that would be recorded for goodwill, and what is the initial journal entry onacquisition?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...