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What is the amount of goodwill resulting

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Reference no: EM133135431

Question - JJ corp paid 900K euros to acquire JJ Corp's stock at 100%. During this time:

JJ Corp

Net income = 130K EUR

Dividends paid 20K EUR

Book value = 600K EUR

Building overvalued by 30K EUR, and a remaining life of 10 years

Land overvalued by 50K EUR

Uli LLC also earned 500K EUR and did not pay any dividends during the year 2019.

Required -

1. Compute consolidated net income for 2019 for the 2 companies using the equity method.

2. What is the amount of goodwill resulting from Uli's acquisition of JJ Corp?

Reference no: EM133135431

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