Solved

On October 1,20X3,Pole Corporation Paid $450,000 for All of Stick

Question 45

Multiple Choice

On October 1,20X3,Pole Corporation paid $450,000 for all of Stick Company's outstanding common stock.On that date,the book values and fair values of Stick's recorded assets and liabilities were as follows:
On October 1,20X3,Pole Corporation paid $450,000 for all of Stick Company's outstanding common stock.On that date,the book values and fair values of Stick's recorded assets and liabilities were as follows: -Based on the preceding information,what amount should be allocated to goodwill in the consolidated balance sheet prepared immediately after the combination? A) $110,000. B) $65,000. C) $45,000. D) $0.
-Based on the preceding information,what amount should be allocated to goodwill in the consolidated balance sheet prepared immediately after the combination?


A) $110,000.
B) $65,000.
C) $45,000.
D) $0.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q40: On December 31,20X1,Pine Corporation acquired 100 percent

Q41: On January 1,20X9,Paradox Company acquired all of

Q42: Pace Corporation acquired 100 percent of Spin

Q43: Pail,Inc.holds 100 percent of the common stock

Q44: Pace Corporation acquired 100 percent of Spin

Q46: Plant Company acquired all of Sprout Corporation's

Q47: On December 31,20X9,Pluto Company acquired 100 percent

Q48: On October 1,20X3,Pole Corporation paid $450,000 for

Q49: Pace Corporation acquired 100 percent of Spin

Q50: On December 31,20X8,Polaris Corporation acquired 100 percent