2 On March 31, 2018, Wolfson Corporation acquired all of the outstanding common

Question

2 On March 31, 2018, Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $17,200,000 in cash. The book values and fair values of Barney's assets and liabilities were as follows: Book Value 6,200,000 11,200,000 1,020,000 4,200,000 6,200,000 0.85 points Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Fair Value 7,700,000 14,200,000 1,520,000 4,200,000 5,700,000 eBook Required Calculate the amount paid for goodwil Hint Goodwill Ask Print References Reference links Costs to Be Capitalized

Explanation / Answer

Consideration paid 17200000 Consideration exchanged: Fair value of assets 23420000 Less :Liabilities -9900000 13520000 Goodwill 3680000

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