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Determining ending consolidated balances in the third year following the acquisition-Cost method Assume a parent company acquired a subsidiary on January 1,2017 , for $1,250,000.

image text in transcribed Determining ending consolidated balances in the third year following the acquisition-Cost method Assume a parent company acquired a subsidiary on January 1,2017 , for $1,250,000. The purchase price was $900,000 in excess of the subsidiary's $350,000 book value of Stockholders' Equity on the acquisition date. Of this excess purchase price, $650,000 was assigned to Property, plant and equipment with a remaining economic useful life of 10 years, and $250,000 was assigned to Goodwill. On the acquisition date, the subsidiary reported retained earnings equal to $80,000. The parent uses Investment cost method of pre-consolidation Equity investment bookkeeping. The financial statements of the parent and its subsidiary for the year ended December 31, 2019, are as follows: At what amount will the following accounts appear in the consolidated financial statements for the year ended December 31 , 2019? Note: Do not use negative signs with any answers

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