Carine Corporation Purchased Matilda Industries on January 1, 2012

question 120

Essay

Carine Corporation purchased Matilda Industries on January 1, 2012. At the time of the purchase, the market value of Matilda's assets is $1,120,000 and its liabilities total $320,000. Carine pays $900,000 for Matilda. Calculate the Goodwill and record the journal entry to record the purchase.

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Definitions:

Antigens

Molecules or substances that the immune system identifies as foreign, triggering an immune response.

Cancer Cells

Abnormal cells that divide uncontrollably and can invade nearby tissues or spread to other parts of the body through the blood and lymph systems.

Psychoneuroimmunology

The study of how psychological processes, the nervous system, and the immune system interact with each other.

Immune System

A biological system consisting of specific cells and proteins that defend the body against infection, disease, and foreign substances.