Quid Corporation Acquired 75 Percent of Pro Company's Common Stock

question 22

Multiple Choice

Quid Corporation acquired 75 percent of Pro Company's common stock on December 31,20X6.Goodwill (attributable to Quid's acquisition of Pro shares) of $300,000 was reported in the consolidated financial statements at December 31,20X6.Parent company approach was used in determining this amount.What is the amount of goodwill to be reported under proprietary theory approach?

• A) $300,000
• B) $400,000
• C) $150,000
• D) $100,000

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Definitions:

Long-Term Memory

A component of memory capable of storing large amounts of information for periods ranging from several minutes to a lifetime.

Kidney Inflammation

Also known as nephritis, it refers to the swelling or inflammation of the kidneys, which can impair their function.

Dysuria

A condition characterized by painful or difficult urination, often indicating a urinary tract infection.

Hematuria

The presence of blood in urine, which can be a symptom of various underlying conditions.