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101.Goodwill is often acquired as part of a business combination. Why, when separate incorporation is maintained, does Goodwill not appear on the Parent company's trial balance as a separate account? 102.How are direct combination costs, contingent consideration, and a bargain purchase reflected in recording an acquisition transaction? 103.How is contingent consideration accounted.

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Multiple Choice Questions 1.Which one of the following accounts would not appear in the consolidated financial statements at the end of the first fiscal period of the combination? A.Goodwill. B.Equipment. C.Investment in Subsidiary. D.Common Stock. E.Additional Paid-In Capital. 2.Which of the following internal record-keeping methods can a parent choose to account for a subsidiary acquired in a.

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97.Peterman Co. owns 55% of Samson Co. Under what circumstances would Petermannot be required to prepare consolidated financial statements? 98.How would you account for in-process research and development acquired in a business combination accounted for as an acquisition? 100.For acquisition accounting, why are assets and liabilities of the subsidiary consolidated at fair.

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Essay Questions 91.For an acquisition when the subsidiary retains its incorporation, which method of internal recordkeeping is the easiest for the parent to use? 92.For an acquisition when the subsidiary retains its incorporation, which method of internal recordkeeping gives the most accurate portrayal of the accounting results for the entire business combination? 93.For.

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Multiple Choice Questions 1.For business combinations involving less than 100 percent ownership, the acquirer recognizes and measures all of the following at the acquisition date except: A.identifiable assets acquired, at fair value. B.liabilities assumed, at book value. C.non-controlling interest, at fair value. D.goodwill or a gain from bargain purchase. E.none of these choices is correct. 2.When Jolt.

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104.How are bargain purchases accounted for in an acquisition business transaction? 105.Describe the accounting for direct costs, indirect costs, and issuance costs under the acquisition method of accounting for a business combination. 106.What is the difference in consolidated results between a business combination whereby the acquired company is dissolved, and a business.

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