Question
On Jan 1, 20X1, Company A reports the following information: net assets $800,000 Equipment remaining life 5 years book value $400,000 market value $500,000 Unrecorded
On Jan 1, 20X1, Company A reports the following information:
net assets $800,000
Equipment remaining life 5 years
book value $400,000
market value $500,000
Unrecorded patent remaining life 4 years $50,000
On Jan 1, 20X1, Company B paid $1,000,000 to acquire 70% of Company A. on Dec 31, 20X2, two years later, what amount of equipment should Huang Inc report in the consolidated balance sheet?
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Business Accounting An Introduction To Financial And Management Accounting
Authors: Jill Collis, Roger Hussey, Andrew Holt, Holt Collis, J. Collis
2nd Edition
0230276237, 978-0230276239
