Lawson Co. recently acquired all of Graham Inc.'s net assets in a business acquisition. The...
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Lawson Co. recently acquired all of Graham Inc.'s net assets in a business acquisition. The cash purchase price was $5,000,000. Graham's assets and liabilities had the following appraised values immediately prior to the acquisition land, $1,000,000, buildings. $3,200,000; Inventory. $2,000,000; long-term notes payable, for which Lawson Co. assumes payment responsibilities, $2,500,000. How much goodwill will result from this transaction? Multiple Choice S700.000. $1.200.000. $1.300.000. $1.800.000
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