3. On April 1, 20X2, Jack Company paid $800,000 for all of Ann Corporation's issued and...
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3. On April 1, 20X2, Jack Company paid $800,000 for all of Ann Corporation's issued and outstanding common stock. Ann's recorded assets and liabilities on April 1, 20X2, were as follows: Cash Inventory Property & equipment (net of accumulated depreciation of $320,000) Liabilities On April 1, 20X2, Ann's inventory was determined to have a fair value of $190,000, and the property an equipment had a fair value of $560,000. What is the amount of goodwill resulting from the business combination? $50,000. $0. $180,000. $150,000. References $ 80,000 240,000 480,000 (180,000) eBook & Resources 3. On April 1, 20X2, Jack Company paid $800,000 for all of Ann Corporation's issued and outstanding common stock. Ann's recorded assets and liabilities on April 1, 20X2, were as follows: Cash Inventory Property & equipment (net of accumulated depreciation of $320,000) Liabilities On April 1, 20X2, Ann's inventory was determined to have a fair value of $190,000, and the property an equipment had a fair value of $560,000. What is the amount of goodwill resulting from the business combination? $50,000. $0. $180,000. $150,000. References $ 80,000 240,000 480,000 (180,000) eBook & Resources
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150000 Goodwill Amount paid towards the acquisition of Common Stock of A... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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