Horngren's Accounting, The Financial Chapters (12th Edition)
12th Edition
ISBN: 9780134486789
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 10, Problem E10.26E
Measuring and recording
Learning Objective 5
1. Goodwill $1,000,000
Princeton has acquired several other companies. Assume that Princeton purchased Kelleher for $9,000,000 cash. The book value of Kelleher’s assets is $19,000,000 (market value, $20,000,000), and it has liabilities of $12,000,000 (market value, $12,000,000).
Requirements
- Compute the cost of the goodwill purchased by Princeton.
- Record the purchase of Kelleher by Princeton.
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Chapter 10 Solutions
Horngren's Accounting, The Financial Chapters (12th Edition)
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