52 - Current assets $10 Long-term assets $15 Total...

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Goodwill Very specific meaning in accounting Only recorded when an entire business is purchased Purchase price exceeds fair value of net assets of business Represents earning power of purchased business Not amortized E7-27 Purchase price of MySpace $18 Fair value of net assets
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Unformatted text preview: Current assets $10 Long-term assets $15 Total liabilities ($24) $1 Goodwill $17 Research & Development Costs • Not an intangible asset • Required to be expensed as incurred No guarantee expenditures will result in a successful project...
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