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What amount of goodwill will be recognized

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Reference no: EM132866373

Problem - On January 1, 2021, Parent purchased, 60% of Sub for 950,000. At that time:

The fair value of the noncontrolling interest was 310,000.

The book value of the Sub was 750,000.

The fair value of identifiable net assets was 875,000.

The AAP was allocated 600,000 to equipment with a remaining life of 10 years and 250,000 to a previously unrecorded patent with a remaining useful life of 5 years.

Required - What amount of goodwill will be recognized?

Reference no: EM132866373

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