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On January 1,2024, Holland Limited (Holland) purchased all net assets (including cash) of Irene Company...

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Accounting

On January 1,2024, Holland Limited (Holland) purchased all net assets (including cash) of Irene Company (Irene). The book value and the fair value of lrene's accounts on the
acquisition date are shown as follows, along with the book value of Holland's accounts.
Holland paid a total of 2,832,000 in cash for the acquisition and paid a further $91,000 to a group of attorneys for their work in arranging the acquisition. How much goodwill should be
recognized in this acquisition?
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