How much goodwill is reported on December

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Question - On September 4, 2017, Apple Inc. paid $2,000,000 to acquire all shares of Banana Corp. On this date, Banana Corp. Inc. had assets of $1,500,000 and liabilities of $300,000 listed on its balance sheet. All assets had book values approximating fair values except its office building and manufacturing facility, whose fair values exceeded book value by $200,000 and $100,000 respectively. How much goodwill is reported on December 31, 2017?

a. $300,000

b. $0

c. $800,000

d. $500,000

Reference no: EM132792100

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