Solution-Calculate the amount paid for goodwill

Calculate the amount paid for goodwill

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Reference no: EM131760269

Question: On March 31, 2016, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $19,000,000 in cash. The book values and fair values of Barney's assets and liabilities were as follows:

	Book Value		Fair Value
Current assets	$	8,000,000	$	9,500,000
Property, plant, and equipment		13,000,000		16,000,000
Other assets		1,200,000		1,700,000
Current liabilities		6,000,000		6,000,000
Long-term liabilities		8,000,000		7,500,000

Required: Calculate the amount paid for goodwill.

Reference no: EM131760269

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Calculate the amount paid for goodwill

Reference no: EM131760269

Reference no: EM131760269

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