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Business, 09.12.2021 05:10 farhan61

On January 1, Year 1, Pacific Corporation acquired 75% of Sand Corporation's 200,000 outstanding common shares for $2,850,000. On January 1, the book value of Sand's net assets was $3,000,000. Book value equaled fair value for all of Sand's assets and liabilities except land, which had a fair value $200,000 greater than book value, and equipment, which had a fair value $150,000 greater than book value. On January 1, Year 1, Sand had a noncompete agreement with a fair value of $300,000. What is the goodwill to be reported on Pacific Corporation's December 24 Yaar 1 halance cheet iinder |!) & CAAPD

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On January 1, Year 1, Pacific Corporation acquired 75% of Sand Corporation's 200,000 outstanding com...
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