Juliana Corporation purchased all of the outstanding stock of Caldwell Inc., paying $2,700,000 cash. Juliana...
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Juliana Corporation purchased all of the outstanding stock of Caldwell Inc., paying $2,700,000 cash. Juliana assumed all of the liabilities of Caldwell. Book values and fair values of acquired assets and liabilities were: Current assets (net) Property, plant, & equip. (net) Liabilities Book Value $ 420,000 1,600,000 500,000 Fair Value $ 450,000 2,250,000 600,000 Juliana would record goodwill of: $880,000. $1,180,000 $100,000. O $600,000 Freeman Company purchased a tract of land on which were located a warehouse and an office building. The cash purchase price was $165,000 plus $20,000 in fees connected with the purchase. The following information relates to the property. Tax Seller's Original Cost Book Value Land $70,000 Assessment $40.000 60.000 100,000 $200.000 $45,000 50.000 Warehouse Building Total 115,000 100.000 130,000 $300.000 $210,000 The building should be recorded at 0 $100,000. $101,310. $92,500. O $80,167
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