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On june 1 renns accounts receivable had a fair value of

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On June 1, Cline Co. paid $800,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on June 1 follow:




 Cash
$ 150,000

 Accounts receivable

180,000

 Capitalized software costs

320,000

 Goodwill

100,000

 Liabilities

(130,000 )






Net assets
$ 620,000








On June 1, Renn's accounts receivable had a fair value of $140,000. Additionally, Renn's inprocess research and development was estimated to have a fair value of $200,000. All other items were stated at their fair values. On Cline's June 1 consolidated balance sheet, how much is reported for goodwill?

Reference no: EM13570862

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