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What the goodwill acquired by sun limited

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Question - Sun Limited bought the business of Moon Limited for $600,000. Two-thirds was paid immediately and the balance was to be paid in two years later. The relevant discount rate is 12%.

The assets taken over by the company had a fair value of $700,000 and the liabilties taken over had a fair value of $250,000. What the goodwill acquired by Sun Limited?

a. Positive Goodwill $109,439

b. Positive goodwill of $150,000

c. Negative Goodwill $50,000

d. Negative Goodwill of $150,000

Reference no: EM132986809

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