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Calculate the amortization deduction of the goodwill

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Reference no: EM132058021

Question - On October 1, 2015, Red Corporation acquired the assets of Blue Corporation. The assets acquired had appraised values on the date of acquisition as follows:

$25,000 Supplies

$125,000 Inventory

$150,000 Equipment

A. Assume Red paid $400,000 for the acquisition of Blue. Calculate the goodwill.

B. Calculate the amortization deduction of the goodwill for 2015.

Reference no: EM132058021

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