Question: what is the answer Question y (1 point) On March 11, Year 7, Tam Corp. (TC) paid $450,000 to purchase 100% of the shares of
what is the answer
Question y (1 point) On March 11, Year 7, Tam Corp. (TC) paid $450,000 to purchase 100% of the shares of Daw Ltd. (DL). DL has the following net assets prior to acquisition: Book value Fair value (FV) (BV) Inventory $41,000 $41,000 Machinery 365,000 393,000 Goodwill 18,000 Accounts payable (8,000) (8,000) Common shares (40,000) Retained earnings (376,000) Both entities report under IFRS. How much goodwill will TC recognize on the purchase of DL? O a) $6,000 (b) $18,000 O c) $24,000 O d) $34,000Step by Step Solution
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