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

Question 27

Multiple Choice

On January 1, 2016, Poole Company purchased 75% of the common stock of Swimmer Company. Separate balance sheet data for the companies at the combination date are given below: On January 1, 2016, Poole Company purchased 75% of the common stock of Swimmer 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) $26,667. B) $20,000. C) $42,000. D) $86,667. 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) $26,667.
B) $20,000.
C) $42,000.
D) $86,667.

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