Floyd Company purchases Haeger Company for $800,000 cash on January 1, 2011.The book value of Haeger Company's net assets, as reflected on its December 31, 2010 statement of financial position is $620,000.An analysis by Floyd on December 31, 2010 indicates that the fair value of Haeger's tangible assets exceeded the book value by $60,000, and the fair value of identifiable intangible assets exceeded book value by $45,000.How much goodwill should be recognized by Floyd Company when recording the purchase of Haeger Company?

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The Answer of Floyd Company purchases Haeger Company for $800,000 cash on January 1, 2011.The book value of Haeger Company's net assets, as reflected on its December 31, 2010 statement of financial position is $620,000.An analysis by Floyd on December 31, 2010 indicates that the fair value of Haeger's tangible assets exceeded the book value by $60,000, and the fair value of identifiable intangible assets exceeded book value by $45,000.How much goodwill should be recognized by Floyd Company when recording the purchase of Haeger Company?

Floyd Company Purchases Haeger Company for $800,000 Cash on January