REFERENCE: Ref.02_09
Salem Co.had the following account balances as of February 1,2008:
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Bellington Inc.paid $1.7 million in cash and issued 12,000 shares of its $30 par value common stock (valued at $90 per share)for all of Salem's outstanding common stock.This investment is accounted for using the purchase method.
-Determine the balance for Goodwill that would be included in a February 1,2008,consolidation.
Definitions:
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