On January 1, 2010, Palk Corp

question 52

Multiple Choice

On January 1, 2010, Palk Corp. and Spraz Corp. had condensed balance sheets as follows: On January 2, 2010, Palk borrowed the entire $84,000 it needed to acquire 80% of the outstanding common shares of Spraz. The loan was to be paid in ten equal annual principal payments, plus interest, beginning December 31, 2010. The excess consideration transferred over the underlying book value of the acquired net assets was allocated 60% to inventory and 40% to goodwill.
-What is consolidated current liabilities at January 2, 2010?

• A) $53,200.
• B) $56,000.
• C) $64,400.
• D) $42,000.
• E) $70,000.

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Definitions:

Private Speech

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The zone of proximal development is a concept in educational psychology that describes the difference between what a learner can do without help and what they can achieve with guidance.

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