Question

Richardson, Corp. aggressively acquired other companies. Assume that Richardson, Corp. purchased Lawrence, Inc. for $14 million cash. The market value of Lawrence’s assets is $22 million, and it has liabilities of $14 million.
Requirements
1. Compute the cost of goodwill purchased by Richardson, Corp.
2. Record the purchase of Lawrence, Inc. by Richardson, Corp.


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  • CreatedJuly 08, 2015
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