Which of the following is an international division organized based on different merchandise categories?

Which of the following is not true regarding medical payments coverage?

A) It covers both family and nonfamily members. B) It is not recommended or needed if you have health insurance. C) It may even cover funeral expenses. D) Insurance professionals recommend coverage of about $10,000 per person.

Patane Corporation acquired 80% of the outstanding voting common stock of Sanlon Corporation on January 1, 2014, for $500,000

Sanlon Corporation's stockholders' equity at this date consisted of $250,000 in Capital Stock and $100,000 in Retained Earnings. The fair value of Sanlon's assets was equal to the book value of the assets except for land with a fair value $40,000 greater than its book value, and marketable securities with a fair value $50,000 greater than its book value. Sanlon also had a valuable patent with a fair value of $25,000 and a book value of zero because its development costs were expensed as incurred. The fair value of Sanlon's liabilities is $10,000 higher than the $40,000 book value. Required: Calculate the amount of goodwill under the parent company and entity theories of consolidation.