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What amount of gain or goodwill is recognized by oriole

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Question - Oriole Company purchases Miles Company for $4350000 cash on January 1, 2018. The book value of Miles Company's net assets reported on its December 31, 2017 financial statement was $3750000. An analysis indicated that the fair value of Miles's tangible assets exceeded the book value by $630000, and the fair value of identifiable intangible assets exceeded book value by $335000. What amount of gain or goodwill is recognized by Oriole?

Reference no: EM132166265

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