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What amount theta record goodwill related to purchase

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Reference no: EM132665102

Theta Incorporated purchased all the outstanding stock of Kappa Company, paying $950,000 cash. Theta assumed all the liabilities of Kappa. The net book values and fair market values of acquired assets and liabilities were as follows:

                                                              Net Book Value              Fair Market Value

Current assets (net)                         $130,000                            $ 125,000
Plant, property, and equipment (net)      600,000                          750,000
Liabilities                                              150,000                     175,000

Problem 1: Theta would record goodwill related to this purchase in what amount?

Reference no: EM132665102

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