Solution-How much goodwill is reported on december

How much goodwill is reported on december

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Reference no: EM132746536

Problem 1: On September 4, 2017, Apple Inc. paid $2,000,000 to acquire all shares of Banana Corp. On this date, Banana Corp.Inc. had assets of $1,500,000 and liabilities of $300,000 listed on its balance sheet. All assets had book valuesapproximating fair values except its office building and manufacturing facility, whose fair values exceeded book valueby $200,000 and $100,000 respectively. How much goodwill is reported on December 31, 2017?

a. $300,000
b. $0
c. $800,000
d. $500,000

Reference no: EM132746536

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How much goodwill is reported on december

Reference no: EM132746536

Reference no: EM132746536

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