Annapolis Company was recently sold for $480,000. Annapolis
Annapolis Company was recently sold for $480,000. Annapolis had assets
& liabilities appraised at the time of the sale in the amounts of:
Item
Amount
Accounts Receivable assumed by buyer
$75,000
Inventory
$290,000
Property, Plant & Equipment (net)
$545,000
Notes Payable assumed by buyer
$705,000
Using this information, how much should be recorded as Goodwill for this transaction?
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