Company A purchased Company B for $156 cash. At the time of purchase, Company B had the following information available regarding assets and liabilities: Book Value Fair Value Current Assets $63 $55 Long-Term Assets $100 $101 Current Liabilities $37 $37 Long-Term Liabilities $48 $46 What amount of goodwill should Company A record?

Definition Definition Intangible asset that includes proprietary or intellectual property and brand value of a firm. Goodwill is recorded in the books when a firm purchases another firm and the purchase price is more than the fair value of net identifiable assets of the acquired business. The amount of goodwill is recorded on the asset side of the balance sheet (statement of financial position).