Question

Rutherford, Corp. aggressively acquired other companies. Assume that Rutherford, Corp. purchased Lancer, Inc. for $ 11 million cash. The market value of Lancer’s assets is $ 15 million, and it has liabilities of $ 10 million.
Requirements
1. Compute the cost of goodwill purchased by Rutherford, Corp.
2. Record the purchase of Lancer, Inc. by Rutherford, Corp.


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  • CreatedJuly 08, 2015
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