P Co reported the book value of its net assets at $200,000 when Z Co acquired 100 % ownership.The fair value of P net assets was determined to be $255,000 on that date.what amount of goodwill will be reported in consolidated financial statements

presented immediately following the combination if Z paid $330,000 for the acquisition?

Select one:

a. 20,000

b. 0

c. 25,000

d. 75,000

Under the parent company concept of consolidated financial statements, the investment in net assets of a subsidiary not displayed in consolidated balance sheet.

Select one:

True

False