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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.


Definitions:

Enhancing Control

Strategies or practices aimed at increasing an individual's authority or influence over their own actions or environment.

Social Support

The perceived or actual assistance and encouragement received from others, which can play a critical role in coping with stress.

Imageability

The ease with which an idea or concept can be visualized or imagined.

Personal Space

The physical area surrounding an individual that is considered personal or private, into which others cannot intrude without causing discomfort.

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