On April 30, 2017, Cupidity Corp. purchased for cash all 200 shares of the outstanding...
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On April 30, 2017, Cupidity Corp. purchased for cash all 200 shares of the outstanding common stock of Venality Corp. for $40 per share. At April 30, 2017, Venality B/S showed net assets with a book value of $6,000. On that date, FMV of Venalitys PPE exceeded book value by $650.
Required - What amount should Cupidity report as goodwill?
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