Question

Oriole Company purchases Pharoah Company for $4350000 cash on January 1, 2021. The book value of Pharoah Company's net assets reported on its December 31, 2020 financial statement was $3750000. An analysis indicated that the fair value of Pharoah's tangible assets exceeded the book value by $630000, and the fair value of identifiable intangible assets exceeded book value by $335000. What amount of gain or goodwill is recognized by Oriole

Answer 1

32,000

Step-by-step explanation:

on paper and on edge 2021