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What amount of goodwill resulted from the acquisition

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Reference no: EM132828397

Problem 1: Which of the following statements best describes how goodwill is measured?

a. Acquisition price - Goodwill = Fair value of net tangible assets

b. Acquisition price - Fair value of net tangible assets = Goodwill

c. Acquisition price - Fair value of net tangible assets - Fair value of identifiable intangible assets = Goodwill.

d. Acquisition price - Book value of net assets = Goodwill

Problem 2: Manyanga Co. purchased a 20% interest in Naomba, Inc. on December 31, 2020 for KShs 600,000. On that date, Naomba's net assets had a book value of KShs 2,000,000 and fair value of KShs 2,500,000. What amount of goodwill resulted from this acquisition?

a. KShs 0

b. KShs 500,000

c. KShs 200,000

d. KShs 100,000

Reference no: EM132828397

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