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Salem Co Had the Following Account Balances as of December 1

Question 89

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Salem Co. had the following account balances as of December 1, 2012: Salem Co. had the following account balances as of December 1, 2012: Bellington Inc. transferred $1.7 million in cash and 12,000 shares of its newly issued $30 par value common stock (valued at $90 per share) to acquire all of Salem's outstanding common stock. Determine the balance for Goodwill that would be included in a December 1, 2012, consolidation.
Bellington Inc. transferred $1.7 million in cash and 12,000 shares of its newly issued $30 par value common stock (valued at $90 per share) to acquire all of Salem's outstanding common stock.
Determine the balance for Goodwill that would be included in a December 1, 2012, consolidation.

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