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Gongman Corp

Question 14

Multiple Choice

Gongman Corp.owned the following assets when it came out of aChapter 11 bankruptcy: Gongman Corp.owned the following assets when it came out of aChapter 11 bankruptcy: Gongman Corp.had a fresh start reorganization value of $1,000,000.What amount of goodwill should have been recognized in recording the reorganization? A) $ 20,000. B) $100,000. C) $ 60,000. D) $210,000. E) $ 98,000. Gongman Corp.had a fresh start reorganization value of $1,000,000.What amount of goodwill should have been recognized in recording the reorganization?


A) $ 20,000.
B) $100,000.
C) $ 60,000.
D) $210,000.
E) $ 98,000.

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