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Case 6: (Advanced Accounting Theory) Tony Computer Services Corporation trades 50% of its common stock for the rights to certain computer programs of the Janet

Case 6: (Advanced Accounting Theory)

Tony Computer Services Corporation trades 50% of its common stock for the rights to certain computer programs of the Janet Corporation. Janet previously expensed such costs of developing these computer programs. Tony concurrently sold the other 50% interest in its stock to the Jeannette Company for $1,000,000. Tony later acquired another the rights to the Udder Computer Companys computer programs in exchange for stock valued at $1,500,000. Tony, thus, debited Investments in Subsidiaries and credited Earnings for $1.5 million to reflect this latest transaction. How should Tonys consolidated financial statement reflect the value of the expensed computer programs?

I need a ASC# plz.

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