On June 1, Bryant, Inc. paid $800,000 cash for all of the is…
On June 1, Bryant, Inc. paid $800,000 cash for all of the issued and outstanding common stock of Acme Company. The carrying values for Acme’s assets and liabilities as of June 1 were: Cash $150,000 Accounts receivable 180,000 Capitalized software costs 320,000 Goodwill 100,000 Liabilities (130,000) Net Assets $620,000 On June 1, Acme’s accounts receivable had a fair value of $140,000. Additionally, Acme’s in-process research and development was estimated to have a fair value of $200,000. All other items’ carrying values approximated their fair values. On Bryant’s June 1 consolidated balance sheet, how much should be reported for goodwill?