On February 28, 2020, Alpha Corporation acquired 90% of the outstanding common stock of Bita...
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On February 28, 2020, Alpha Corporation acquired 90% of the outstanding common stock of Bita Company for $500,000 cash. Out-of-pocket costs of the business combination paid byAlpha on February 28, 2020, were in the form of Finders and legal fees relating to business combination $50,000 and Costs associated with SEC registration statement $10,000,only the fair value of plant assets exceeds its carrying amount by $90,000, net assets of Bita $400,000. The amount of goodwill is:
a.
$109,000.
b.
68,000
c.
$20,000
d.
$70,000.
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