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g100num [7]
2 years ago
9

15. Assume that Bullen issued 12,000 shares of common stock, with a $5 par value and a $47 fair value, to obtain all of Vicker's

outstanding stock. In this acquisition transaction, how much goodwill should be recognized
Business
1 answer:
vodomira [7]2 years ago
7 0

Answer:

$104,000

Explanation:

Note: <em>The full question is attached as picture below</em>

Fair value of net assets = Cash and receivables + Inventory + Land + Buildings (net) + Equipment (net) - Liabilities

Fair value of net assets = $70,000 + 210,000 + 240,000 + 270,000 + 90,000 - 420,000

Fair value of net assets = $460,000

Purchase consideration paid = 12,000*$47

Purchase consideration paid = $564,000

Goodwill recognized = Purchase consideration - Fair value of net assets

Goodwill recognized = $564,000 - $460,000

Goodwill recognized = $104,000

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