Question 13 wered ced out of 9 en Goodwill Millennium Corporation purchases Falcon Inc. for $3.5 M. Falcon has the follo

[answerhappygod]

Question 13 Wered Ced Out Of 9 En Goodwill Millennium Corporation Purchases Falcon Inc For 3 5 M Falcon Has The Follo 1 (237.39 KiB) Viewed 27 times

Question 13 wered ced out of 9 en Goodwill Millennium Corporation purchases Falcon Inc. for $3.5 M. Falcon has the following assets all recorded at cost: Accounts receivable $ Inventory Land Building (net) Equipment (net) Total Assets Requirements: 125,000 350,000 500,000 350,000 50,000 $1,375,0000 The fair value of the assets is $2,350,000 and Millennium also assumes $600,000 of debt from Falcon. Determine if there is any goodwill related to Millennium's purchase of Falcon and if so what is the value of the goodwill? Show you below. $ Goodwill is captured on the (