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Business, 02.03.2020 21:01 tyme66

Pennant Corporation acquired 80 percent of Saylor Company’s common stock for $20,000,000 in cash. At the date of acquisition, Saylor’s $5,000,000 of reported net assets were fairly stated, except land was overvalued by $200,000 and unrecorded developed technology was valued at $2,000,000. The estimated fair value of the noncontrolling interest is $4,000,000 at the acquisition date. Calculate total goodwill and its allocation to the controlling and noncontrolling interests. Enter answers using all zeros (do not abbreviate to in thousands or in millions).

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Pennant Corporation acquired 80 percent of Saylor Company’s common stock for $20,000,000 in cash. At...
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