Hepner corporation has the following stockholders equity


Question - Hepner Corporation has the following stockholders' equity accounts:

Preferred stock (6% cumulative dividend)$560,000   Common stock 810,000   Additional paid-in capital 360,000   Retained earnings 1,010,000

The preferred stock is participating. Wasatch Corporation buys 80 percent of this common stock for $1,660,000 and 70 percent of the preferred stock for $630,000. The acquisition-date fair value of the noncontrolling interest in the common shares was $415,000 and was $270,000 for the preferred shares. All of the subsidiary's assets and liabilities are viewed as having fair values equal to their book values.

What amount is attributed to goodwill on the date of acquisition?

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Accounting Basics: Hepner corporation has the following stockholders equity
Reference No:- TGS02519002

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