Alpine Enterprises was recently sold for $3,500,000. Alpine's assets and liabilities consisted of the following: Item Cash Inventory Amount $225,000 $450,000 Property, Plant & Equipment (net) $1,350,000 Accounts Payable $340,000 Using this information, how much should be recorded as Goodwill for this transaction?

Alpine Enterprises was recently sold for $3,500,000. Alpine's assets and liabilities consisted of the following: Item Cash Inventory Amount $225,000 $450,000 Property, Plant & Equipment (net) $1,350,000 Accounts Payable $340,000 Using this information, how much should be recorded as Goodwill for this transaction?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 10PA: Buchanan Imports purchased McLaren Corporation for $5,000,000 cash when McLaren had net assets worth...

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