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 would be the total amount of goodwill that Wilson should report 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 would be the total amount of goodwill that Wilson should report at year-end?

Quizplus · Accepted Answer

The total amount of goodwill that Wilson should report at year-end is $69,000. This is calculated as the excess of the purchase price over the fair value of the identifiable net assets acquired.

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