Company S has no long-term marketable securities. Assume the following scenarios:

Case A

Assume that P Company paid $130,000 cash for 100% of the net assets of S Company.

S Company

Assets

Current Assets Long-lived Assets Liabilities Net Assets

Book Value $15,000 $85,000 $20,000 $80,000

Fair Value 20,000 130,000 30,000 120,000

Case B

Assume that P Company paid $110,000 cash for 100% of the net assets of S Company.

S Company

Assets

Current Assets Long-lived Assets Liabilities Net Assets

Book Value $15,000 $85,000 $20,000 $80,000

Fair Value 30,000 80,000 20,000 90,000

Case C

Assume that P Company paid $15,000 cash for 100% of the net assets of S Company.

S Company

Assets

Current Assets Long-lived Assets Liabilities Net Assets

Book Value $15,000 $85,000 $20,000 $80,000

Fair Value 20,000 40,000 40,000 20,000

Required: Complete the following schedule by listing the amount that would be recorded on Ps books.

	Assets			Liabilities
	Goodwill	Current Assets	Long-lived Assets
Case A
Case B
Case C