Ivy,Incorporated,purchased all the common stock of Harrell Company for $2,000,000.Harrell's net assets had a book value of $1,200,000 and a fair market value of $1,500,000.What amount of goodwill should Ivy record as a result of this transaction?

Question

Quizplus · Accepted Answer

The Answer of Ivy,Incorporated,purchased all the common stock of Harrell Company for $2,000,000.Harrell's net assets had a book value of $1,200,000 and a fair market value of $1,500,000.What amount of goodwill should Ivy record as a result of this transaction?

Ivy,Incorporated,purchased All the Common Stock of Harrell Company for $2,000,000