Question 16 X Corporation acquired 100 percent of Y Corporation's outstanding capital stock for $430,000 cash. Immediately before the purchase, the balance sheets of both Not yet answered corporations reported the following: Marked out of XCO 1.00 Y CO Assets $2,000,000 Pag question $750,000 Liabilities $ 750,000 $400,000 Common Stock 1,000,000 310,000 Retained Earnings 250.000 40,000 Liabilities & Stockholders' Equity $2,000,000 $750,000 At the date of purchase, the fair value of Y assets was $50,000 less than the Book value amounts. In the consolidated balance sheet prepared immediately after the purchase the goodwill should amount to Select one: a. 30,000 b. 130,000 C. 80.000 Woydod. 50.000 Question 17 Not yet on 1/1/2019 X Co acquired 80% of Y common stock for $150,000 in the same day the y net assets was $ 140,000 in the same date the fair value of assets and liabilities were equal year ended 31/12/2019 y reported income $50,000, declared dividend $30,000 X using equity methods what is good will balance on 1/1/2019 answered Marked out of 1.00 Select one: Flag question a. 37,500 b. 47,500 C. 50.000 d. 10,000 cion 18 et ered On December 31, 2008, Mercury Corporation acquired 100% ownership of Saturn Corporation. On that date, Saturn reported assets and liabilities with book values of $300,000 and $100,000, respectively, common stock outstanding of $50,000, and retained earnings of $150,000. The book values and fair values of Saturn's assets and liabilities were same except land which had increased in value by $10,000 and Inventories which had decreased by $5,000 Based on the preceding information, what amount of goodwill will be reported if the acquisition price was $240,000? ed out of lag question Select one: a. 40,000 b. 15,000 C. O d. 35,000