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How much of the purchase price should be debited to goodwill

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Question - Ben's Corporation is buying all the assets and assuming all the liabilities of Kirkland's Company. Ben will pay $1,000,000 for the company. The company's assets are valued at $2,000,000, and its liabilities are valued at $1,200,000. How much of the purchase price should be debited to goodwill?

Reference no: EM132195333

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