Question: Supplemental Problem 1 - 1 Calculating Equity in Net Income Plattco purchased 7 0 % of Siris, Inc. for $ 1 , 2 0 0

Supplemental Problem 1-1
Calculating Equity in Net Income
Plattco purchased 70% of Siris, Inc. for $1,200,000. Book values equaled fair values except Property Plant and Equipment had a fair value $100,000 greater than book value, and unreported technology of $10,000. Property, Plant & Equipment has an estimated life of 10 years, and the unrecorded technology a life of 5 years. The calculation of goodwill at acquisition is:
\table[[Price Paid,$1,200,000
Supplemental Problem 1-1 Calculating Equity in Net Income Plattco purchased 70%

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