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28 December, 14:55

On january 1, 2017, robinson company purchased franklin company at a price of $3,850,000. the fair market value of the net assets purchased equals $2,870,000. 1. what is the amount of goodwill that robinson records at the purchase date?

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  1. 28 December, 15:00
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    Goodwill is $980,000.

    robinson company purchased franklin company at a price of $3,850,000. the fair market value of the net assets purchased equals $2,870,000.

    Consideration given = 3850000

    Fair Value of the Assets=2870000

    Good will = 980000
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