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What amount of goodwill reported as a result of acquisition

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Question - At the beginning of this year, Tall Corporation acquired 100% of Short Company for $550,000. On the acquisition date, Short's shareholders' equity was $360,000. The book values of Short's net assets approximated their fair values except for land, whose fair value exceeded its book value by $20,000. What the amount of goodwill reported as a result of the acquisition?

a. $170,000.

b. $190,000.

c. $0.

d. $210,000.

Reference no: EM133088269

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