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Posted: **Fri Jul 01, 2022 8:30 am**

: Millennium Corporation Purchases Falcon Inc For 2 1 M Falcon Has The Following Assets All Recorded At Cost Accounts 1 (121.11 KiB) Viewed 27 times

: Millennium Corporation Purchases Falcon Inc For 2 1 M Falcon Has The Following Assets All Recorded At Cost Accounts 2 (149.15 KiB) Viewed 27 times

Millennium Corporation purchases Falcon Inc. for $2.1 M. Falcon has the following assets all recorded at cost: Accounts receivable $ 125,000 Inventory 350,000 1,500,000 350,000 50,000 Land Building (net) Equipment (net) Total Assets $2,375,0000 The fair value of the assets is $2,350,000 and Millennium also assumes $650,000 of debt from Falcon.

4 Requirements: Determine if there is any goodwill related to Millennium's purchase of Falcon and if so what is the value of the goodwill? Show your supporting calculations in the workspace below. S Goodwill is captured on the WORKSPACE 1 A B I III 2