a. $150

b. $2,900

c. $2,200

d. $700

e. $550

What is goodwill as of 1/1/20?

a. $150

b. $700

c. $250

d. $1,200

e. $550

Compute the amount of Harry's equipment, net, that would be reported in a 12/31/20 consolidated balance sheet

a. $625

b. $1,125

c. $1,000

d. $1,250

e. $750

Pots Company acquires 100% of the stock of Harry Corporation on January 1, 2020, for $3,800 cash. As of that date Harry has the following trial balance: $ 500 Cash Accounts Receivable $ 600 Inventory $ 800 $ 400 Buildings (net) (5 year life) $ 1,500 Equipment (net) (2 year life) $ 1,000 Land $ 900 Accounts Payable Long-term liabilities (due 12/31/20) Common Stock Additional Paid-in-Capital Retained Earnings Total $ 5,300 $ 1,800 $ 1,000 $ 600 $ 1,500 $ 5,300 The fair value of Harry's net assets that differ from their book values are listed below: Fair Value Buildings Equipment Land Long Term Liabilities $ 1,200 $ 1,250 $ 1,300 $ 1,700 Any excess of consideration transferred over fair value of net assets acquired is considered goodwill with an indefinite life. Compute the consideration transferred in excess of book value acquired at January 1, 2020