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TXL. Publishing paid $230,000 to acquire Tn Town Dally, a weekly advertising paper. At the...

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Accounting

TXL. Publishing paid $230,000 to acquire Tn Town Dally, a weekly advertising paper. At the time of the acquisition. Tn Town Daily's balance sheet reported total assets of $140,000 and liabilities of $80,000. The fair market value of Tri Town Daily's assets was $110,000. The fair market value of Tri Town Daily's liabilities was $80,000.
Read the requirements.
Requirement 1. How much goodivill did TXL Publishing purchase as part of the acquisition of Tri Town Dsily?
Purchase price to acquire Tri Town Daily
Market value of Tri Town Daily's assets
Less. Market value of Tn Town Daily's liabilities
Less Market value of Tn Town Daily's net assets
Goodwill
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