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REFERENCE: Ref.03_05 Perry Company Obtains 100% of the Stock of Hurley Corporation

Question 23

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REFERENCE: Ref.03_05
Perry Company obtains 100% of the stock of Hurley Corporation on January 1,2009,for $3,800 cash.As of that date Hurley has the following trial balance;
SHAPE \* MERGEFORMAT
REFERENCE: Ref.03_05 Perry Company obtains 100% of the stock of Hurley Corporation on January 1,2009,for $3,800 cash.As of that date Hurley has the following trial balance; SHAPE \* MERGEFORMAT Any excess of consideration transferred over fair value is considered goodwill with an indefinite life.FIFO inventory valuation method is used. -Compute goodwill,if any,at January 1,2009. A) $150. B) $250. C) $700. D) $1,200. E) $550. Any excess of consideration transferred over fair value is considered goodwill with an indefinite life.FIFO inventory valuation method is used.
-Compute goodwill,if any,at January 1,2009.


A) $150.
B) $250.
C) $700.
D) $1,200.
E) $550.

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