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  1. #1
    Junior Member
    Join Date
    Dec 2009
    Location
    Vietnam
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    2

    Angry need help problem with googwill

    ABC is a limited company, the net asset of Mary & Co were purchased on 3 March 20x7. Assets were valued as follow:
    Investments $ 231k
    Inventory: $ 34k

    the consideration for the acquisition of Mary & Co is $ 285k on 31 December 20x7.
    So the Goodwill is calculated as: 285k - 265k = 20k
    Goodwill will appear on the Current Assets side
    I have a question is, what will appear in the other side of Balance Sheet (20k)?

  2. #2
    Junior Member
    Join Date
    Sep 2009
    Location
    Cambodia
    Posts
    14

    Default

    On your acquisition.

  3. #3
    Junior Member
    Join Date
    Dec 2009
    Location
    Vietnam
    Posts
    2

    Default

    I don't really understand, what is acquisition account? an account likes Trading account?if it is, it will appear on asset's side not liabilities and equity's side

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