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How is a goodwill treating in accounting

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Reference no: EM132534833

Question 1 : How is a goodwill treating in accounting when calculating Net Income for Tax purposes?

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Question 2 : During the year, Sam's Ltd acquired a competing business at a price that included goodwill of $80,000. For accounting purposes, there has been no impairment or write-down of the goodwill since it's purchase. Determine the tax effect.

Reference no: EM132534833

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