Question
first question 1. Parrett Corp. acquired 100% of Jones' shares on 1/1/2009, at a price higher than the fair value of the subsidiary. On that
** I have modified this question and this question that I want to solve is below ** The question one: (This question includes a scientific and theoretical case that you must answer in detail)
1. Parrett Corp. acquired 100% of Jones' shares on 1/1/2009, at a price higher than the fair value of the subsidiary. On that date, Parrett had equipment that was ten years old) with a carrying value of 360,000 dinars and a fair value of 480,000 dinars. Whereas Jones had equipment (ten years old) with a carrying value of 240,000 dinars and a fair value of 350,000 dinars. Parrett used the fractional equity method to record its investment in Jones. On 12/31/2011, Parrett had equipment with a book value of 250,000 dinars and a fair value of 400,000 dinars. Jones had equipment with a book value of 170,000 dinars and a fair value of 320,000 dinars. **What is the unified balance of the equipment account as of 12/31/2011?
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