Use the Following Information to Answer the Question(s)below

question 9

Multiple Choice

Use the following information to answer the question(s) below.
On January 1,2011,Penelope Company acquired a 90% interest in Leah Company for $180,000 cash.On January 1,2011,Leah Company had the following assets and liabilities:
Push-down accounting is used for the acquisition.
-Assume the parent company theory is used.On January 2,2011,Leah Company will report Goodwill of ________ and Accounts Receivable of ________ on Leah's balance sheet.

• A)$27,000;$30,000
• B)$27,000;$35,000
• C)$30,000;$30,000
• D)$45,000;$34,500

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Definitions:

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The process of creating a cohesive group, improving relationships and function through activities and exercises designed to enhance teamwork.

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