On July 1, 2020, Pharoah Corporation acquired Sheridan Company for $855,000 cash. At the time of...

 

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On July 1, 2020, Pharoah Corporation acquired Sheridan Company for $855,000 cash. At the time of purchase, Sheridan's balance sheet showed assets of $736,250 and liabilities of $237,500. The fair value of Sheridan's assets is estimated to be $902,500. Question 9 Compute the amount of goodwill acquired by Pharoah. Amount of goodwill $1 Attempts: 0 of 1 used * Question 9 n m The parts of this question must be completed in order. This part will be available when you complete the part above. On July 1, 2020, Pharoah Corporation acquired Sheridan Company for $855,000 cash. At the time of purchase, Sheridan's balance sheet showed assets of $736,250 and liabilities of $237,500. The fair value of Sheridan's assets is estimated to be $902,500. Question 9 Compute the amount of goodwill acquired by Pharoah. Amount of goodwill $1 Attempts: 0 of 1 used * Question 9 n m The parts of this question must be completed in order. This part will be available when you complete the part above.

Answer rating: 100% (QA)

fair value of assets 902500 fair value ... View the full answer