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How much goodwill should be recognized by Blaze Corp

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Question - Blaze Corp. purchases Miri Inc. for $4,500,000 cash on January 1, 2020. The book value of Miri Inc.'s net assets, as reflected on its December 31, 2019 balance sheet is $3,250,000. An analysis by Blaze Corp. on December 31, 2019 indicates that the fair value of Miri's tangible assets exceeded the book value by $450,000, and the fair value of identifiable intangible assets exceeded book value by $150,000. How much goodwill should be recognized by Blaze Corp. when recording the purchase of Miri Inc.?

Reference no: EM133020902

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