Compute the amount of goodwill acquired by Sarasota.
| Value assigned to goodwill | $
 |
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Tuesday, 29 October 2019
On August 1, 2017, Sarasota Corporation acquired Metlock, Inc. for a cash payment of $2.3 million. At the
On August 1, 2017, Sarasota Corporation acquired Metlock, Inc.
for a cash payment of $2.3 million. At the time of purchase,
Metlock’s balance sheet showed assets of $4,410,000, liabilities of
$2,590,000, and owners’ equity of $1,820,000. The fair value of
Metlock’s identifiable assets is estimated to be $4,262,000.
Compute the amount of goodwill acquired by Sarasota.
Compute the amount of goodwill acquired by Sarasota.
