Corp the carrying values for renns assets and liabilities, Ask an Expert

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Corp. The carrying values for Renn's assets and liabilities on June 1 follow:

Cash $ 168,000
Accounts receivable 298,500
Capitalized software costs 376,000
Goodwill 193,000
Liabilities (196,000)
Net assets $ 839,500

Note: Parentheses indicate a credit balance.
On June 1, Renn's accounts receivable had a fair value of $209,000. Additionally, Renn's in-process research and development was estimated to have a fair value of $249,000. All other items were stated at their fair values. On Cline's June 1 consolidated balance sheet, how much is reported for goodwill?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9798235

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