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Homework answers / question archive /  Company's 12/31/21 balance sheet reports assets of $7020000 and liabilities of $2820000

 Company's 12/31/21 balance sheet reports assets of $7020000 and liabilities of $2820000

Accounting

 Company's 12/31/21 balance sheet reports assets of $7020000 and liabilities of $2820000. All of Ivanhoe's assets' book values approximate their fair value, except for land, which has a fair value that is $422000 greater than its book value. On 12/31/21, Oriole Corporation paid $7151000 to acquire Ivanhoe. What amount of goodwill should Oriole record as a result of this purchase? O $131000 $2529000 $0 $2951000

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