Kosher Pickle Company acquires all the outstanding stock of Midwest Produce for $19 million. The fair value of Midwest’s assets is $14.3 million. The fair value of Midwest’s liabilities is $2.5 million. Calculate the amount paid for goodwill.

Northern purchased the entire business of Southern including all its assets and liabilities for $658,000. Below is information related to the two companies: Northern Southern Fair value of assets $1,044,000 $798,000 Fair value of liabilities 585,000 315,000 Reported assets 813,000 634,000 Reported liabilities 483,000 258,000 Net Income for the year 59,000 58,000 How much goodwill did Northern pay for acquiring Southern?

SFFN Corp. purchased the entire business of AZC, Inc. including all its assets and liabilities for $1,800,000. Below is information related to the two companies:     SFFN   AZC   Fair value of assets $ 3,050,000   $ 1,600,000 Fair value of liabilities   2,575,000     800,000 Reported assets   2,800,000     1,400,000 Reported liabilities   2,500,000     750,000 Net Income for the year   460,000     250,000                     How much goodwill will SFFN recognize as a result of its acquisition of AZC?   Select one: a. $-0- b. $1,225,000 c. $1,150,000 d. $200,000 e. $1,000,000

On December 31, Phoenix Corporation acquired all of Sedona Corporation’s voting stock in exchange for $560,000 cash. At the acquisition date, the fair values of Sedona’s assets and liabilities equaled their carrying values, except that the fair value of the inventory was $20,000 lower than the carrying value, the fair value of the equipment was $50,000 higher than the carrying value, and the fair value of the long-term debt was $4,000 lower than the carrying value.   The separate condensed balance sheets of the two companies immediately after the acquisition (on 12/31) are as follows:                                                                                  Phoenix   Sedona          Cash                                                            $ 90,000   $   60,000          Accounts receivable                                    130,000   25,000          Inventory                                                    160,000   70,000          Plant and equipment (net)…