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The balance sheet of Cattleman's Steakhouse shows assets of $93,600 and liabilities of $21,000. The...

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Accounting

The balance sheet of Cattleman's Steakhouse shows assets of $93,600 and liabilities of $21,000. The fair value of the assets is
$99,000 and the fair value of its liabilities is $21,000. Longhorn paid Cattleman's $113,000 to acquire all of its assets and
liabilities. Longhorn should record goodwill on this purchase of:
Multiple Choice
$53,600.
$14,000.
$18,600
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