Question: On December 31 2017 Resolute Inc Resolute purchased 100 percent

On December 31, 2017, Resolute Inc. (Resolute) purchased 100 percent of the common shares of Uno Ltd. (Uno) for $22,000,000. At the time of the purchase, Resolute's management made the following estimates of the fair values of Uno's assets and liabilities:
Assets.......... $25,000,000
Liabilities........ 6,000,000
Required:
Calculate the amount of goodwill that Resolute would report on its December 31, 2017 consolidated balance sheet as a result of its purchase of Uno.


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  • CreatedFebruary 26, 2015
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