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What is the amount of goodwill resulting

    Assignment Instructions

    Assignment ID: FG133135431

    Question – JJ corp paid 900K euros to acquire JJ Corp’s stock at 100%. During this time:

    JJ Corp

    Net income = 130K EUR

    Dividends paid 20K EUR

    Book value = 600K EUR

    Building overvalued by 30K EUR, and a remaining life of 10 years

    Land overvalued by 50K EUR

    Uli LLC also earned 500K EUR and did not pay any dividends during the year 2019.

    Required –

    1. Compute consolidated net income for 2019 for the 2 companies using the equity method.

    2. What is the amount of goodwill resulting from Uli’s acquisition of JJ Corp?

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