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What amount theta would record goodwill related to purchase

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Theta Incorporated purchased all the outstanding stock of Kappa Company, paying $950,000 cash. Theta assumed all the liabilities of Kappa. The net book values and fair market values of acquired assets and liabilities were as follows:

                                                       Net Book Value                  Fair Market Value
Current assets (net)                  $130,000                      $ 125,000
Plant, property, and equipment (net)  600,000                   750,000
Liabilities                                        150,000                  175,000

Problem 1: Theta would record goodwill related to this purchase in what amount?

Reference no: EM132804587

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