43. Which of the following could be a reason for a company acquiring another to pay over and above its niet asset value? The company had internally developed some copyright which were valued very low in their books of account b. The company had tand whose value after appraisal were very high 6. The company had trained and highly qualified employees, d. The company had trademark with a long useful life e. The company had no liabilities at the time of acquisition. 44. Hyena Corporation pays $700,000 to acquire Quinton Company. Quinton has two assets. The first is a building with a book value of $200,000 and a fair value of $300,000. The second is a patent with a book value of $10,000 and a fair value of $250,000. Assume the company had no liabilities. What amount is reported as goodwill as part of this sale? a $250,000 b. $390,000 $I d. $150,000 c. $490,000 45. Kremlin Corporation purchased Tophat Corporation on January 1, 20X3. As a result of the purchase, Kremlin recorded goodwill of S200,000. Which of the following is not true concerning this purchase? 2 Tonham must have had a specific attribute which did not meet the definition of a separate intangible asset, but for which Kremlin was willing to pay. b. Kremlin paid $200,000 less than the fair value of Topham's net assets. c. Kremlin does not amortize the $200,000 following the acquisition. d. The goodwill should be checked for impairment regularly e I Kremlin determines the goodwill has been impaired, it should record a loss. 46. Igloo Corporation purchased Sunshine, Inc. for $800,000. Sunshine had three assets and one liability on the date of purchase. They are as follows: Account Beck value Fair valus Accounts Receivable $48.000 $140.000 $20,000 $500,000 Copyright $12,000 $300,000 Accounts Payable $40,000 $140.000 Which of the following is the amount of goodwill to be reported in this transaction? a S-0- b. $80,000 c. $40,000 d. $120,000 e $760,000 Land of 8 2467 words English (United States) I Focus O tv 4 X W P MacBook At