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Quid Corporation Acquired 75 Percent of Pro Company's Common Stock

Question 22

Multiple Choice

Quid Corporation acquired 75 percent of Pro Company's common stock on December 31,20X6.Goodwill (attributable to Quid's acquisition of Pro shares) of $300,000 was reported in the consolidated financial statements at December 31,20X6.Parent company approach was used in determining this amount.What is the amount of goodwill to be reported under proprietary theory approach?


A) $300,000
B) $400,000
C) $150,000
D) $100,000

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