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Annapolis Company was recently sold for $470,000.

/in /by

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

& liabilities appraised at the time of the sale in the amounts of:

Using this information, how much should be recorded as Goodwill for this transaction?

2019-10-04 (2).png

2019-10-04 (2).png

Item
Amount
Accounts Receivable assumed
by buyer
$93,000
Inventory
$275,000
Property, Plant & Equipment
(net)
$590,000
Notes Payable assumed by
buyer
$665,000
 
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