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Rand Corporation acquires all of Southern Company's assets and liabilities on January 1, 2014, for $20,000,000 in cash. At the date of acquisition, Southern's balance sheet reported assets of $65,000,000 and liabilities of $52,000,000. Investigation reveals that Southern's reported plant assets are overvalued by $1,600,000. Rand reports how much goodwill on this acquisition?

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Accounting Basics, Accounting

Category:- Accounting Basics
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