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Calculate the amount of goodwill acquired

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Question - The balance sheet of Flo's Restaurant showed total assets of $360,000, liabilities of $104,000 and stockholders' equity of $256,000. An appraiser estimated the fair value of the restaurant assets at $415,000. If Alice Company pays $505,000 cash for the restaurant, calculate the amount of goodwill acquired?

Reference no: EM132668779

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