Homework Help: Math

Posted by Bobbi Loffredo on Saturday, April 2, 2011 at 4:53pm.

On March 31, 2009, Wolfson Corporation acquired all of the outstanding common stock of barney Corporation for $17,000,000 in cash. The book values and fair values of barney's assets and liabilities were as follows:
Book value Fair value
current assets $6,000,000 7,500,000

Property,plant,and
equipment 11,000,000 14,000,000

other assets 1,000,000 1,500,000

Current liabilities4,000,000 4,000,000

long-term
liabilities 6,000,000 5,500,000

Calculate the amount paid for goodwill.

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