Nebulus Corporation owns 30% of the voting stock of Suite Company. It reports the 30% interest as an equity method investment, with a current carrying value of $32,000,000 and a market value of $45,000,000. Nebulus acquires the remaining 70% interest for $120,000,000 in cash. At that time, the fair value of Suite's identifiable net assets was $125,000,000, and Suite's book value was $45,000,000. As part of the acquisition entry, Nebulus records:A) A gain of $13,000,000, in income. B) Goodwill of 27,000,000. C) Goodwill of $107,000,000. D) A gain of $5,000,000, in income.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Nebulus Corporation owns 30% of the voting stock of Suite Company. It reports the 30% interest as an equity method investment, with a ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
A current emphasis in supply chain management is to make the process of ordering as simple as possible, often through electronic data and inventory systems that are called: a. quick response and efficient consumer response delivery systems b.
Answers (1)
Roman company is preparing its cash budget for the upcoming month. the budgeted beginning cash balance is expected to be $ 44 comma 000. budgeted cash receipts are $ 108 comma 000 , while budgeted cash disbursements are $ 120 comma 000.
Answers (1)
Which Command Staff member approves the Incident Action Plan and all requests pertaining to the ordering and releasing of incident resources? A. Public Information OfficerB. Safety OfficerC. Liaison OfficerD. Incident Commander
Answers (1)
In the long run, the economic profits for a monopolistically competitive firm will be rev: 05_15_2018 Multiple Choice the same as the profits for a monopolist. the same as the profits for a purely competitive firm.
Answers (1)
The type of financial aid which provides money for a job on campus is called
Answers (1)
New Questions in Business
Identify whether each statement in the following table best illustrates the concept of consumers' surplus, producers' surplus, or neither.
Answers (1)
How many units would have to be sold to yield a target operating income of $26,000, assuming variable costs are $27 per unit, total fixed costs are $2,000, and the unit selling price is $32?
Answers (1)
Zane's leadership style includes delegating tasks to his employees and giving them the freedom to perform the tasks using any strategy they see fit. this demonstrates which of the critical management skills suggested by katz
Answers (1)
Coca-Cola spent $102 million through The Coca-Cola Campaign focusing on water stewardship, healthy and active lifestyles, community recycling, and education. This initiative is an illustration of a CSR program. True or False?
No Answers
Suppose the Board of Directors of The Staten Island Suppliers Co. announces on October 4th that the regular quarterly dividend of 50 cents per share will be payable to the holders of record at the close of business on November 15th 2019.
Answers (1)