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At what amount goodwill would be reported

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Question - On January 1, 19X2, Sun Corp. purchased 80% of Moon Corp's $10 par common stock for $975,000. On this date, the carrying amount of Moon's net assets was $1,000,000. The fair values of Moon's identifiable assets and liabilities were the same as their carrying amounts except for plant assets (net), which were $100,000 more than the carrying amount. For the year ended December 31 19X2, Moon had net income of $190,000 and paid dividends totaling $125,000. In the January 1, 19X2, consolidated statement of financial position, goodwill would be reported at what amount?

Reference no: EM133109514

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