MassiveCorp buys TinyCorp for $1,000,000. In return, they get $600,000 worth of land that has been 60%
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- MassiveCorp buys TinyCorp for $1,000,000. In return, they get $600,000 worth of land that has been 60% depreciated, buildings, equipment, and other tangible assets; $200,000 worth of intangible assets the firm purchased that are 25% amortized; and $75,000 worth of intangible assets that the firm developed internally, and, therefore, never showed on their books. There are no other specifically identifiable assets. How much goodwill will MassiveCorp show on their books from the sale?
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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