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What is the consolidated goodwill

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Reference no: EM132936444

Problem 1: Which method of consolidation, should an acquirer Company use if it has problems identifying the goodwill at acquisition?

a. Acquisition method
b. Net Identifiable Asset Method
c. Proportionate Method
d. Fair Value Method

Problem 2: On December 31st,.2020, X purchased 80% of the common shares of Y for $1,000,000. The fair value of Y's identifiable net assets was $1,080,000 on that date. At December 31st., 2020 the fair values and carrying values of Y's identifiable net assets were equal except for the equipment where the fair value exceeded the carrying value by $40,000 and the long-term liabilities' fair value exceeded the carrying value by $60,000.

What is the consolidated goodwill?

a. $150,000
b. $270,000
c. $190,000
d. $230,000

Reference no: EM132936444

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