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What amount should MAJ recognize

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Question - MAJ Corporation acquired 100% of the common stock of Min Co. for $1,740,000. MAJ previously held no equity interest in Min.

On the date of acquisition, the carrying amount of Min's identifiable net assets equaled $1,487,000.

The acquisition-date fair values of Min's inventory and equipment exceeded their carrying amounts by $69,000 and $53,000, respectively. The carrying amounts of the other assets and liabilities were equal to their acquisition-date fair values.

What amount should MAJ recognize on the consolidated financial statements as goodwill as of the date of the acquisition?

Reference no: EM132652641

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