Oriole Company’s 12/31/21 balance sheet reports assets of $11550000 and liabilities of $4910000. All of Oriole’s assets’ book values approximate their fair value, except for land, which has a fair value that is $710000 greater than its book value. On 12/31/21, Egbert Corporation paid $11744000 to acquire Oriole. What amount of goodwill should Egbert record as a result of this purchase?
Oriole Company’s 12/31/21 balance sheet reports assets of $11550000 and liabilities of $4910000. All of Oriole’s assets’ book values approximate their fair value, except for land, which has a fair value that is $710000 greater than its book value. On 12/31/21, Egbert Corporation paid $11744000 to acquire Oriole. What amount of goodwill should Egbert record as a result of this purchase?
Oriole Company’s 12/31/21 balance sheet reports assets of $11550000 and liabilities of $4910000. All of Oriole’s assets’ book values approximate their fair value, except for land, which has a fair value that is $710000 greater than its book value. On 12/31/21, Egbert Corporation paid $11744000 to acquire Oriole. What amount of goodwill should Egbert record as a result of this purchase?
Oriole Company’s 12/31/21 balance sheet reports assets of $11550000 and liabilities of $4910000. All of Oriole’s assets’ book values approximate their fair value, except for land, which has a fair value that is $710000 greater than its book value. On 12/31/21, Egbert Corporation paid $11744000 to acquire Oriole. What amount of goodwill should Egbert record as a result of this purchase?
Definition Definition Intangible asset that includes proprietary or intellectual property and brand value of a firm. Goodwill is recorded in the books when a firm purchases another firm and the purchase price is more than the fair value of net identifiable assets of the acquired business. The amount of goodwill is recorded on the asset side of the balance sheet (statement of financial position).
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