Amount of goodwill resulting from the business combination

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Reference no: EM131792129

Question: On April 1, 2014, Dart Company paid $620,000 for all issued and outstanding common stock of Wall Corporation in a transaction properly accounted for under the acquisition method. Wall's recorded assets and liabilities on April 1, 2014, follow:

On April 1, 2014, Wall's inventory had a $150,000 fair value, and its property and equipment (net) had a $380,000 fair value.

Required: What is the amount of goodwill resulting from the business combination?

Reference no: EM131792129

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