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Golden paid €20 million to purchase Ryanair.com.
Suppose that Ryanair had the following summarized data at the time of the Golden acquisition (amounts in million euros):
Assets
Current Assets 10
Long Term Assets 22
Total Assets 32
Shareholders' Equity and Liabilities
Total Liabilities 25
Shareholders' Equity 7
Total Shareholders' Equity and Liabilities 32
Ryanair's long-term assets had a current market value of only €18 million.
Problem 1. Compute the cost of goodwill purchased by Golden.
Problem 2. Show on a transaction worksheet how Golden accounts for the purchase of Ryanair.
Problem 3. Explain how Golden will account for goodwill in the future.
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