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Company purchased 100% of the voting common stock of Super Company for $2,000,000. There are no liabilities. The following book and fair values pertaining to
Company purchased 100% of the voting common stock of Super Company for $2,000,000. There are no liabilities. The following book and fair values pertaining to Super Company are available:
PLEASE PROVIDE STEPS
| Book Value | Fair Value |
Current assets | $300,000 | $600,000 |
Land and building | 600,000 | 900,000 |
Machinery | 500,000 | 600,000 |
Goodwill | 100,000 | ? |
The amount of machinery that will be included in on the consolidated balance sheet is:
a. | $560,000 |
b. | $860,000 |
c. | $600,000 |
d. | $900,000 |
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