On January 1, 2016, Pamela Company Purchased 75% of the Common

Multiple Choice

On January 1, 2016, Pamela Company purchased 75% of the common stock of Snicker Company. Separate balance sheet data for the companies at the combination date are given below: Determine below what the consolidated balance would be for each of the requested accounts on January 2, 2016. What amount of goodwill will be reported?

A) ($20,000)
B) ($25,000)
C) $25,000
D) $0