REFERENCE: Ref.02_01 Bullen Inc.assumed 100% Control Over Vicker Inc.on January 1,20X1.The Book

Multiple Choice

REFERENCE: Ref.02_01
Bullen Inc.assumed 100% control over Vicker Inc.on January 1,20X1.The book value and fair value of Vicker's accounts on that date (prior to creating the combination) follow,along with the book value of Bullen's accounts:

-Assume that Bullen paid a total of $480,000 in cash for all of the shares of Vicker.In addition,Bullen paid $35,000 to a group of attorneys for their work in arranging the combination to be accounted for as a purchase.What will be the balance in consolidated goodwill?

A) $0.
B) $20,000.
C) $35,000.
D) $55,000.