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What amount of goodwill should JZ record

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Question - XYZ Company's 12/31/15 balance sheet reports assets of $9,000,000 and liabilities of $3,750,000. All of XYZ's assets' book values approximate their fair value, except for land, which has a fair value that is $600,000 greater than its book value. On 12/31/15, JZ Corporation paid $9,150,000 to acquire XYZ. What amount of goodwill should JZ record as a result of this purchase?

Reference no: EM132083632

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