question archive Annapolis Company was recently sold for $450,000
Annapolis Company was recently sold for $450,000
Subject:AccountingPrice: Bought3
Annapolis Company was recently sold for $450,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:
Item Amount
Accounts Receivable assumed by buyer $111,000
Inventory $280,000
Property, Plant & Equipment (net) $585,000
Notes Payable assumed by buyer $625,000
Using this information, how much should be recorded as Goodwill for this transaction?
