Multiple Choice
On January 1,2012,Stacy Company purchased the College Book Store for $350,000.At the date of purchase,it was determined the recorded assets had a total market value of $325,000,comprised of inventory (books) ,$275,000; fixtures,$30,000; and other assets $20,000.It is estimated that the goodwill (if any) has an economic useful life of 20 years.What is the amount of amortization expense for goodwill for 2012?
A) $1,250
B) $0
C) $16,250
D) $17,500
Correct Answer:
Verified
Correct Answer:
Verified
Q79: In accounting,which of the following is true
Q81: Revenue expenditures on operational assets are accounted
Q82: In 2012,WD Company reported the cost of
Q83: On March 1,Chapine Company purchased a new
Q84: Acquisition cost of property, plant, and equipment
Q85: Companies cannot change the method of depreciation
Q86: To which account should the amount of
Q87: WD Company reports profit in 2012 of
Q88: In 2012,WD Company reported the cost of
Q89: Which of the following is false?<br>A)The book