Oriole Company's balance sheet at December 31, 2026 reports assets of $1054000 and liabilities of $722000. All of Oriole's assets' book values approximate their fair value, except for land, which has a fair value that is $62000 greater than its book value. In addition, notes payable has a fair value that exceeds its book value by $52000. On December 31, 2026, Ivanhoe Corporation paid $449000 to acquire Oriole. What amount of goodwill should Ivanhoe record as a result of this purchase? $3000 O $55000 O $117000 O $107000

Oriole Company's balance sheet at December 31, 2026 reports assets of $1054000 and liabilities of $722000. All of Oriole's assets' book values approximate their fair value, except for land, which has a fair value that is $62000 greater than its book value. In addition, notes payable has a fair value that exceeds its book value by $52000. On December 31, 2026, Ivanhoe Corporation paid $449000 to acquire Oriole. What amount of goodwill should Ivanhoe record as a result of this purchase? $3000 O $55000 O $117000 O $107000

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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