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Business, 09.12.2021 04:20 ijohnh14

On December 31, Year 1, Starlight Enterprises acquired a 90% ownership interest in Lunar Importers by purchasing 90,000 of Lunar’s 100,000 voting common shares outstanding for $900,000 cash. Additional information regarding Lunar as of December 31, Year 1, follows: Book Value Fair Value Net assets $ 600,000 $ 800,000 Under U. S. GAAP, the consolidated balance sheet of Starlight Enterprises and subsidiary would report goodwill in the amount of:

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On December 31, Year 1, Starlight Enterprises acquired a 90% ownership interest in Lunar Importers b...
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