B Co acquired 100% of the voting common shares of S Co, by issuing bonds with a par value and fair value of $75,000. Immediately prior to the acquisition, B reported total assets of $250,000, liabilities of $140,000, and stockholders' equity of $110,000. At that date, S reported total assets of $200,000, liabilities of $125,000, and stockholders' equity of $75,000

Based on the preceding information, what amount of total assets did B report in its balance sheet immediately after the acquisition?

Select one:

a. 375,000

b. 250,000

c. 450,000

d. 325,000

In the equity method of acquisition,income is recognized when the subsidiary reported income.

Select one:

True

False

X Co owns 75% of the common shares of Y Co.Non-controlling interest was assigned $24,000 of income in the 2019 consolidated income statement.What amount of net income from Y did X Corporation reports for the year?

Select one:

a. 75,000

b. 96,000

c. 72,000

d. 65,000

On 1/1/2019,X Co acquired 100% of the common stock of Y Co. At the time,X held Furniture with historical cost of $60,000,accumulated depreciation $10,000 and a fair value of $130,000; Y held Furniture with historical cost of $25,000 ,accumulated depreciation $5,000 and fair value of $30,000. at what amount would net book value of furniture be reported in X Co balance sheet prepared immediately after the merger ?

Select one:

a. 90,000

b. 85,000

c. 80,000

d. 75,000

R Co and F Co merged as of 1/1/2019.To effect the merger, R paid finder's fees of $20,000, legal fees of $6,500, audit fees related to the stock issuance of $5,000, stock registration fees of $2,500,and stock listing application fees of $2,000.

Based on the preceding information, under the acquisition method,what amount relating to the business combination would be recorded as expense

Select one:

a. 36,000

b. 9,500

c. 26,500

d. 31,500