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Unformatted text preview: (e) Goodwill = $350,000 (h) Gain on bargain purchase = $150,000 P2-24: (a) Fair value of consideration transferred = $750,000 Goodwill = $27,000 (a), (b) Total assets = $2,574,000 P2-25: (a) Contingent performance obligation = $62,500 (b) Total assets = $3,778,500 P2-26: (a) Purchase price = $1,100,000 (e) Goodwill = $70,000 (j) Land balance to be consolidated = $308,000 P2-27: (a) Goodwill = $100,000 (d) Buildings = $1,000,000 P2-29: (a) Inventory at fair value = $600,000 (d) Buildings at $960,000 (e) Land balance to be consolidated = $480,000 P2-30: (a) Investment in Harriss Co. = $390,000 on Merrill’s books Goodwill = $40,000 (b) Total consolidated assets = $1,654,000 P2-33: (a) Purchase total assets = $4,500,000 Pooling total assets = $1,950,000...
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- Fall '11
- Balance Sheet, Generally Accepted Accounting Principles, total assets