Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. perch co. acquired 80% of the common stock of floa

Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair...

70.2K

Verified Solution

Question

Accounting

Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair value of Float's net assets was $1,850,000, and the book value was $1,500,000. The non-controlling interest shares of Float Corp. are not actively traded. What is the total amount of goodwill recognized at the date of acquisition?

$150,000.

$250,000.

$0.

$170,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Two tangent galvanometers having coils of the same radius are connected in series A current...

Physics
1.2K views

An AIR station is broadcasting the waves of wavelength 300 metres If the radiating power...

Basic Math
1.2K views

Let P x x studies Calculus Q x x is a Computer Science major R...

Basic Math
1.2K views

When rolling a six-sided die, of which all sides are equally likely, it can be...

Basic Math
1.2K views

Describe the transformation of f(x) = 10x which is given by g(x) = 103x.A) g(x)...

Statistics
1.2K views

estion 30 1 point terpret the median study of unemployment rates in all 50 s...

Accounting
1.2K views

TB MC Qu. 13-165 (Algo) Boney Corporation processes sugar beets... Boney...

Accounting
1.2K views

PA 13-2 (Algo) Flextrola, Inc., an electronics systems integrator, is... Flextrola, Inc., an electronics systems...

Accounting
1.2K views

Sales Variable expenses Contribution margin Fixed expenses Net operating income Amount $ 92,000 36,800 55,200...

Accounting
1.2K views

If a companys control risk is initially assessed as low, the auditor needs to gather...

Accounting
1.2K views

P11-13 has had a comprehensive budgeting system in operation for severat yeirs. Feelinom amoly...

Accounting
1.2K views

E9.5 (LO 2), AP The ledger of Costello Company at the end of the current...