Pangborn Corporation Paid $840,000 (Including Direct Out-Of-Pocket Costs) for 70

Multiple Choice

Pangborn Corporation paid $840,000 (including direct out-of-pocket costs) for 70% of the outstanding common stock of Siddon Company on September 30, 2006, the end of Pangborn's fiscal year. Included in the working paper elimination (in journal entry format) for Pangborn Corporation and subsidiary on that date were the following:
If Pangborn had inferred a current fair value for 100% of Siddon's total net assets from the $840,000 cost, Goodwill and Minority Interest in Net Assets of Subsidiary in the September 30, 2006, working paper elimination would have been, respectively:

A) $100,000 and $330,000
B) $70,000 and $360,000
C) $49,000 and $231,000
D) $100,000 and $360,000
E) Some other amounts