1. Major buys 90% of Little, and has control. What amounts will be shown in the consolidated balance sheet at the acquisition date for Littles assets and liabilities?

   a		100% of their book values
   b		100% of their fair values
   c		90% of the book value
   d		90% of the fair value

2. Parent owned 80% of Sub. In Year 1, Parent sold a trademark with a book value of $400,000 to Sub. The selling price was $700,000. The trademark has an indefinite useful life. At what amount should the trademark be reported in the Year 1 ending balance sheet?

		$560,000.
		$320,000.
		$700,000.
		$400,000.