REFERENCE: Ref.02_09
Salem Co.had the following account balances as of February 1,2008:
SHAPE \* MERGEFORMAT
Bellington Inc.paid $1.7 million in cash and issued 12,000 shares of its $30 par value common stock (valued at $90 per share)for all of Salem's outstanding common stock.This investment is accounted for using the purchase method.
-Determine the balance for Goodwill that would be included in a February 1,2008,consolidation.

Question

REFERENCE: Ref.02_09
Salem Co.had the following account balances as of February 1,2008:
SHAPE \* MERGEFORMAT
  Bellington Inc.paid $1.7 million in cash and issued 12,000 shares of its $30 par value common stock (valued at $90 per share)for all of Salem's outstanding common stock.This investment is accounted for using the purchase method.
-Determine the balance for Goodwill that would be included in a February 1,2008,consolidation.

Quizplus · Accepted Answer

The Answer of REFERENCE: Ref.02_09
Salem Co.had the following account balances as of February 1,2008:
SHAPE \* MERGEFORMAT
  Bellington Inc.paid $1.7 million in cash and issued 12,000 shares of its $30 par value common stock (valued at $90 per share)for all of Salem's outstanding common stock.This investment is accounted for using the purchase method.
-Determine the balance for Goodwill that would be included in a February 1,2008,consolidation.

REFERENCE: Ref.02_09 Salem Co.had the Following Account Balances as of February 1,2008