Reference no: EM132673950
On January 2, 2020, Kuehler Corporation's stockholder's equity accounts were as follows:
Common Stock, $1 par $100,000
Additional Paid in Capital $350,000
Retained Earnings $225,000
Kuehler's assets and liabilities had book values equal to fair values except for inventory, land and building which were undervalued by $50,000, $75,000, and $40,000, respectively. On January 2, 2020 Davis Corp. purchased all of Kuehler's common stock for $900,000 cash. There was no contingent consideration in the agreement to combine.
Problem a) What is the goodwill amount (show your calculation)
Problem b) What are the necessary consolidation entries for a January 2, 2020 balance sheet.
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: What is the goodwill amount for Kuehler Corporation. What are the necessary consolidation entries for a January 2, 2020 balance sheet.
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