Reference no: EM133608933
Question: On January 1, 20X9, Pretty Corporation purchased 70% of the common stock of Slick Corporation. Separate balance sheet data for the companies at the combination date are given below Pretty Slick Cash $ 12,000 103,000 Accounts Receivable 72,000 14,000 Inventory 66,000 18,000 Land 39,000 16,000 Plant assets - Net 230,000 120,000 Investment in Slick 196,000 Total Assets $615,000 271,000 Accounts payable $103,000 71,000 Capital stock 400,000 150,000 Retained earnings 112,000 50,000 Total Equities $615,000 271,000 At the date of combination the book values of Slick's net assets was equal to the fair value of the net assets except for Slick's inventory which has a fair value of $30,000. Indicate in each of the questions what the consolidated balance would be for the requested account. what is the goodwill?
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