Tilman Company Paid $360,000 to Acquire the Net Assets of Wilver

question 32

Multiple Choice

Tilman Company paid $360,000 to acquire the net assets of Wilver Company. If the business combination is treated as an acquisition and the fair value of Wilver Company's current assets is $135,000, its plant and equipment is $363,000, and its liabilities are $84,000, Tilman Company's financial statements immediately after the combination will include which additional item due to the acquisition of Wilver Company:

• A)Negative goodwill of $54,000.
• B)Plant and equipment of $498,000.
• C)Plant and equipment of $414,000.
• D)A gain of $54,000.

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