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All other items were stated at their fair values on clines

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Reference no: EM13483059

Corp. The carrying values for Renn's assets and liabilities on June 1 follow:

  • Cash $ 168,000
  • Accounts receivable 298,500
  • Capitalized software costs 376,000
  • Goodwill 193,000
  • Liabilities (196,000)
  • Net assets $ 839,500

Note: Parentheses indicate a credit balance.
On June 1, Renn's accounts receivable had a fair value of $209,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $249,000. All other items were stated at their fair values. On Cline's June 1 consolidated balance sheet, how much is reported for goodwill?

Reference no: EM13483059

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