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Amount of goodwill to be recognized in acquisition

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Reference no: EM13145404

On January 1, 2010, Glenville Co. acquired an 80% interest in Acron Corp. for $500,000. There is no active trading market for Acron's stock. The fair value of Acron's net assets was $600,000 and Glenville accounts for its interest using the acquisition method.

Determine the amount of goodwill to be recognized in this acquisition.

Reference no: EM13145404

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