Azimuth Company purchases a small business for $500,000.The market value of the business's assets are $850,000,and the market value of the liabilities are $400,000.How much goodwill should Azimuth record?

Name: Azimuth Company purchases a small business for $500,000.The market value of the business's assets are $850,000,and the market value of the liabilities are $400,000.How much goodwill should Azimuth record?
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Quizplus · Accepted Answer

D) Calculations: $500,000 - ($850,000 - $400,000) = $50,000

Azimuth Company Purchases a Small Business for $500,000