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Goodwill Millennium Corporation purchases Falcon Inc. for $3.5 M. Falcon has the following assets all recorded at cost:
Posted: Fri Jul 01, 2022 8:39 am
by answerhappygod
- Goodwill Millennium Corporation Purchases Falcon Inc For 3 5 M Falcon Has The Following Assets All Recorded At Cost 1 (41.23 KiB) Viewed 28 times
- Goodwill Millennium Corporation Purchases Falcon Inc For 3 5 M Falcon Has The Following Assets All Recorded At Cost 2 (41.23 KiB) Viewed 28 times
Goodwill Millennium Corporation purchases Falcon Inc. for $3.5 M. Falcon has the following assets all recorded at cost: Accounts receivable $ 125,000 Inventory 350,000 500,000 350,000 50,000 Land Building (net) Equipment (net) Total Assets $1,375,0000 The fair value of the assets is $2,350,000 and Millennium also assumes $600,000 of debt from Falcon. 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. $ Goodwill is captured on the