PCo,paid $50,000 fees to its accountants and lawyers in acquiring S Co. P co will treat the $50,000 as.

Select one: a. an expense for the current year. b. additional cost to investment on the consolidated balance sheet c. a reduction in additional paid-in capital d. a prior period adjustment to retained earnings.

XYZ Co, a subsidiary acquired for cash,owned land with a fair value higher than the book value as of the date of combination.A consolidated balance sheet prepared immediately after the acquisition would include this difference in

Select one: a. retained earnings. b. land c. goodwill. d. bargain