The following two consolidation eliminating entries were made immediately following Plains' acquisition of a 100 percent ownership interest in Seaboard for $88,000,000 cash:

Required
Compute the following amounts:
a. Book value of Seaboard at the date of acquisition.
b. Excess paid over the book value of net assets acquired.
c. Goodwill.

Transcribed Image Text:

Stockholders' equity Seaboard.. 48,000,000 Goodwill 2,000,000 Investment in Seaboard. ..<.a. ..