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Ski Free Company purchased goodwill from Snowbird for $96,000. Snowbird had developed the goodwill over...

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Accounting

Ski Free Company purchased goodwill from Snowbird for $96,000. Snowbird had developed the goodwill over 12 years.

How much would Ski Free Co. amortize as Goodwill Expense for its first year?

$7,000

$8,000

Goodwill is not amortized

Not enough information

Answer & Explanation Solved by verified expert
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