If the fair value of a subsidiary corporations land was $ 100,000 and its book value was

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If the fair value of a subsidiary corporation’s land was $ 100,000 and its book value was $90,000 when the parent company acquired its 100% interest for cash, at what amount would the land be included in the consolidated balance sheet immediately after the acquisition? Would your answer be different if the par¬ ent company had acquired an 80% interest?

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Advanced Accounting

ISBN: 9780131851221

9th Edition

Authors: Floyd A. Beams, Robin P. Clement, Suzanne H. Lowensohn, Joseph H. Anthony

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