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

Question

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

Quizplus · Accepted Answer

The Answer is B

Use the Following Information to Answer Question(s) Below