Taste-T Company has been in business for 30 years and has developed a large group of loyal restaurant customers. Down Ho

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Taste T Company Has Been In Business For 30 Years And Has Developed A Large Group Of Loyal Restaurant Customers Down Ho 1 (18.29 KiB) Viewed 20 times

Taste-T Company has been in business for 30 years and has developed a large group of loyal restaurant customers. Down Home Foods made an offer to buy Taste-T Company for $6,000,000. The market value of Taste-T's tangible assets.net of liabilities on the date of the offer is $5,600.000. Taste-T also holds a patent for a fluting machine that the company invented (the patent with a market value of $200,000 was never recorded by Taste-T because it was developed internally) Required: 1. How much has Down Home Foods included for intangibles in its offer of $6.000.000? 2. Assuming Teste-T accepts this offer, which company will report Goodwill on its balance sheet and at what amount? 1. Intangibles 2