Quid Corporation acquired 60 percent of Pro Company's common stock on December 31,20X4.Goodwill (attributable to Quid's acquisition of Pro shares)of $150,000 was calculated under the proprietary theory approach.What is the amount of goodwill that should be reported under entity theory approach?
A) $150,000
B) $200,000
C) $250,000
D) $100,000

Question

Quizplus · Accepted Answer

The Answer of Quid Corporation acquired 60 percent of Pro Company's common stock on December 31,20X4.Goodwill (attributable to Quid's acquisition of Pro shares)of $150,000 was calculated under the proprietary theory approach.What is the amount of goodwill that should be reported under entity theory approach?
A) $150,000
B) $200,000
C) $250,000
D) $100,000

Quid Corporation Acquired 60 Percent of Pro Company's Common Stock