TMZ, Inc. dominates the snack-food industry with its Salty chip brand. Assume that TMZ, Inc....
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Accounting
TMZ, Inc. dominates the snack-food industry with its Salty chip brand. Assume that TMZ, Inc. purchsed red chip inc., for $5.9 million cash. The market value of red river chip inc, assets is 10 million, and red river chips has liability with market value of 5.1 million.
1. Compute the cost of Goodwill purchased by TMZ. (Enter amount in millions, to the nearest tenth of a million, xx)
2. Explain how Goodwill will account for in future years.
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