Question
On 12/31/19, Mini Cooper decided to purchase 100% of WaterColor lnc for $100,000 so that it could change the color of the new 2020 mini
On 12/31/19, Mini Cooper decided to purchase 100% of WaterColor lnc for $100,000 so that it could change the color of the new 2020 mini coopers. The following info is from Watercolor Inc.s Financials. Balance Sheet as of 12/31/19: Total Assets = $24,000. Fair Value as of 12/31/19: Fair value of Net Assets = $45,000. What amount would be amortized for 2019 on the Goodwill account?
|
| $0 |
|
| $2,270 |
|
| $21,000 |
|
| $24,000 |
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ACCOUNTING JOB QUESTIONS AND ANSWERS Trainee Accountants Handbook
Authors: Sterling Libs FCCA
1st Edition
1911037129, 978-1911037125
