Following its acquisition of the net assets of Burnt Company,Primrose Company assigned goodwill of $60,000 to one of the reporting divisions.Information for this division follows: Based on the preceding information,what amount of goodwill will be reported for this division if its fair value is determined to be $200,000?
A)$0
B)$60,000
C)$30,000
D)$10,000

Question

Following its acquisition of the net assets of Burnt Company,Primrose Company assigned goodwill of $60,000 to one of the reporting divisions.Information for this division follows:  Based on the preceding information,what amount of goodwill will be reported for this division if its fair value is determined to be $200,000?
A)$0 
B)$60,000 
C)$30,000 
D)$10,000

Quizplus · Accepted Answer

The Answer of Following its acquisition of the net assets of Burnt Company,Primrose Company assigned goodwill of $60,000 to one of the reporting divisions.Information for this division follows:  Based on the preceding information,what amount of goodwill will be reported for this division if its fair value is determined to be $200,000?
A)$0 
B)$60,000 
C)$30,000 
D)$10,000

Following Its Acquisition of the Net Assets of Burnt Company,Primrose