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QUESTION
Annapolis Company was recently sold for $460,000.Annapolis had assets liabilities appraised at the time of the sale in the amounts of:
Annapolis Company was recently sold for $460,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:
Item
Amount
Accounts Receivable assumed by buyer
$99,000
Inventory
$255,000
Property, Plant & Equipment (net)
$535,000
Notes Payable assumed by buyer
$615,000
how much should be recorded as Goodwill for this transaction?
