wileyPLUS MyWiley I Contact UsLe00 Leo Company Accounting 10

wileyPLUS: MyWiley I Contact UsLe00 Leo, Company Accounting, 10e UNSW Accounting (ACC12542/ACCT5942) Assignment Gradebook FULL SCREEN PRINTER VERSION BACK NEXT Question 1 ted acquired the following net assets of Kerm Limited: property $25 000; inventory $18 amount of goodwill acquired by Peter Limited was: : accunts rectivable $14 000; and accounts payvable $3000. Al tems ane sated at fair vae The purchase consideration was $60 000. The $54 000. $6000 $57 000. $3000. Question Attempts: 0 of I used SAVE FOR LATER SUBMIT ANSWER A.,ghts Reserved. A Divson of

Solution

Answer : $6000

Goodwill = purchase consideration $60000 - [ (Fair Value of assets (25000 +18000 + 14000) - (Liabilities 3000) ] = Goodwill $6000