Tosco Co.paid $540,000 for 80% of the stock of Martz Co.when the book value of Martz’s net assets was $600,000.For all of Martz’s assets and liabilities, book value and fair

Tosco Co.paid $540,000 for 80% of the stock of Martz Co.when the book value of Martz’s net assets was $600,000.For all of Martz’s assets and liabilities, book value and fair value were approximately equal.There was no active market for the shares of Martz Co.
Required:
Using the acquisition method, what amount of goodwill should appear in a consolidated balance sheet prepared immediately after the combination?


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