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Question 25

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Use the following information to answer question(s) below.

On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below:
Use the following information to answer question(s) below. On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below: -What amount of Goodwill will be reported? A) $54,400 B) $68,000 C) $72,000 D) $90,000 Use the following information to answer question(s) below. On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below: -What amount of Goodwill will be reported? A) $54,400 B) $68,000 C) $72,000 D) $90,000
-What amount of Goodwill will be reported?


A) $54,400
B) $68,000
C) $72,000
D) $90,000

Correct Answer:

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