Pilgrim has acquired several other comparies. Astume that Plgrim purchased Kittery for $8,000,000 cash. The...
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Pilgrim has acquired several other comparies. Astume that Plgrim purchased Kittery for $8,000,000 cash. The book value of kewory's assets is $13,000,000 (miarket value, $16,000,000 k and at has liabilities of $13,000,000 (mtaket valve, $13,000,000). Requirements 1. Compute the cost of goodmil purchased by Pilgrim. 2. Record the purchase of Kitery by Pagrim. Reauirement 1. Combuse the cost of coodwil purchased by Pilorim
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