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Compute the good will associated with the purchase

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Question - Chavra Hamilton Company had the following balance sheet on January 1, 2019

Cash $45,000 current liabilities $40,000

Account Receivable $30,000 Noncurrent Liabilities $ 110,000

Inventory $20,00 Stockholders Equity $165,000

Property plant and equipment $220,000 Total Liabilities & S/H/E $315,000

Total Assets $ 315,000

On January 2, 2019, Jose Amador company purchased Hamilton Company by acquiring all its outstanding shares for $280,00 cash. On that date the fair value of accounts Receivable was $15,000 the fair value of property, plant and equipment was $240,000. In addition, the value of unrecorded intangible asset was 15,000.

Required: Compute the good will, associated with the purchase of Hamilton Company.

Reference no: EM132436561

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