Pursuing an inorganic growth strategy,Wilson Company acquired Venus Company's net assets and assigned them to four separate reporting divisions.Wilson assigned total goodwill of $134,000 to the four reporting divisions as given below:

-Based on the preceding information,what amount of goodwill will be reported for Alpha at year-end?

Question

Pursuing an inorganic growth strategy,Wilson Company acquired Venus Company's net assets and assigned them to four separate reporting divisions.Wilson assigned total goodwill of $134,000 to the four reporting divisions as given below:
 
-Based on the preceding information,what amount of goodwill will be reported for Alpha at year-end?

Quizplus · Accepted Answer

Goodwill is reported when the purchase price of an acquisition exceeds the fair value of the net identifiable assets. Without specific details on the acquisition or purchase price, the default assumption is that no goodwill is reported.

Pursuing an Inorganic Growth Strategy,Wilson Company Acquired Venus Company's Net