in consolidation at december 31, 2015, what net adjustment is necessary for hogan's patent account?

$234,000 cash. This amount is reflective of Hogan's total fair value. Hogan's stockholders' 23-24. McGuire Company acquired 90 percent of Hogan Company on January 1, 2014, for equity consisted of common stock of $160,000 and retained earnings of $80,000. An analysis arnings are ignored in the consolidated income statement. of Hogan's net assets revealed the following: Book Value Fair Value Buildings (10-year life) $10,000 $ 8,000 Equipment (4-year life) 14,000 18,000 Land 12,000 Any excess consideration transferred over fair value is attributable to an unamortized patent with a useful life of 5 years. 23. In consolidation at December 1 5,000 2015