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P Company acquires all of the voting stock of S Company for $930,000 cash. The...

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Accounting

P Company acquires all of the voting stock of S Company for $930,000 cash. The book values of S Companys assets are $800,000, but the fair values are $840,000 because land has a fair value above its book value. Goodwill from the combination is computed as:

$130,000.

$90,000.

$40,000.

$0.

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