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Does robinson amortize goodwill at year-end

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Reference no: EM132562449

Question - Robinson Company purchased Franklin Company at a price of $3,830,000. The fair market value of the net assets purchased equals $2,880,000.

Required -

1. What is the amount of goodwill that Robinson records at the purchase date?

2. Does Robinson amortize goodwill at year-end?

3. Robinson believes that its employees provide superior customer service, and through their efforts, Robinson believes it has created $1,370,000 of goodwill. Should Robinson Company record this goodwill?

Reference no: EM132562449

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