This question has been answered
Question

Annapolis Company was recently sold for $470,000. Annapolis had assets

& liabilities appraised at the time of the sale in the amounts of:
Item
Amount
Accounts Receivable assumed by buyer
$102,000
Inventory
$275,000
Property, Plant & Equipment (net)
$510,000
Notes Payable assumed by buyer
$665,000
Using this information, how much should be recorded as Goodwill for this transaction?

Answered by Expert Tutors
Step-by-step explanation
The student who asked this found it Helpful
Overall rating 100%
Subject: Accounting, Business
Annapolis Company was recently sold for $470,000.Annapolis had assets & liabilities appraised at the time of the sale in the amounts of: Item Amount
Get unstuck

321,403 students got unstuck by Course
Hero in the last week

step by step solutions

Our Expert Tutors provide step by step solutions to help you excel in your courses