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    lilady08 Posts: 3, Reputation: 1
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    Nov 7, 2011, 10:27 PM
    accounting for intangible assets
    Mia-Tora Company purchased a fast-food restaurant for $1,400,000 in 2012. The fair market values of the assets purchased were as follows. No liabilities were assumed.

    Equipment $320,000
    Land 200,000
    Building 650,000
    Franchise(5 year life) 100,000
    Required
    Calculate the amount of goodwill purchase.

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