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What the amount of goodwill to be recorded

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Question - Company A paid $600 million for all the outstanding stock of Company B. At the acquisition date, Company B reported the following condensed balance sheet:

The fair value of PP&E was $120 million more than its recorded book value. The fair value of all other identifiable assets and liabilities were equal to their recorded book values.

Required - What the amount of goodwill to be recorded in the consolidated balance sheet?

Reference no: EM133039709

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