Following is the statement of financial position of Crane Industries, Ltd., as at December 31, 2023: Cash Accounts receivable Inventory Land Plant and equipment (net) Current liabilities Warranty liability Common shares Retained earnings Book Value Amount of goodwill $ $54,200 279,600 188,500 103,200 768,100 $1.393.600 $136,700 99,300 663.900 493,700 $1,393,600 Fair Value $54,200 284,900 179,800 129,000 895,400 136,700 131,400 The following day (January 1, 2024), Crane was purchased by Ivanhoe Enterprises Inc. for a lump-sum cash payment of $1.3 million. Calculate the amount of goodwill acquired by Ivanhoe in this transaction.

Following is the statement of financial position of Crane Industries, Ltd., as at December 31, 2023: Cash Accounts receivable Inventory Land Plant and equipment (net) Current liabilities Warranty liability Common shares Retained earnings Book Value Amount of goodwill $ $54,200 279,600 188,500 103,200 768,100 $1.393.600 $136,700 99,300 663.900 493,700 $1,393,600 Fair Value $54,200 284,900 179,800 129,000 895,400 136,700 131,400 The following day (January 1, 2024), Crane was purchased by Ivanhoe Enterprises Inc. for a lump-sum cash payment of $1.3 million. Calculate the amount of goodwill acquired by Ivanhoe in this transaction.

Name: Following is the statement of financial position of Crane Industries,
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Description: Following is the statement of financial position of Crane Industries, Ltd., as at December 31, 2023:CashAccounts receivableInventoryLandPlant and equipment (net)Current liabilitiesWarranty liabilityCommon sharesRetained earningsBook ValueAmount of g

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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