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23. What amount of Solar's Bonds Payable would appear on the consolidated balance sheet at December 31, 2019?

Select one:

A. $2,050,000

B. $2,010,000

C. $2,040,000

D. $2,000,000

24. What amount of Solar's land would be included on the consolidated balance sheet at December 31, 2020?

Select one:

A. $ 600,000

B. $1,500,000

C. $ 900,000

D. $1,800,000

26. What amount of Solar's equipment would be included on the consolidated balance sheet at December 31, 2019?

Select one:

A. $380,000

B. $280,000

C. $300,000

D. $320,000

Cash Huey Company acquires 100% of the stock of Solar Corporation on January 1, 2019, for $2,400,000 cash. As of that date Solar had the following account balances: Book Value Fair value $630,000 $630,000 Accounts receivable 775,000 775,000 Inventory 350,000 400,000 Building-net (10 year life) 1,000,000 900,000 Equipment-net (5 year life) 300,000 400,000 Land 600,000 900,000 Accounts Payable 125,000 125,000 Bonds Payable (Face amount $1,000,000, due 12/31/2023) 2,000,000 2,050,000 Common stock 500,000 Additional paid-in capital 250,000 Retained earnings 780,000 n 2019 and 2020, Solar had net income of $250,000 and $240,000, respectively. In addition, Solar paid dividends of $16,000 in both years. Inventory is assumed to be sold in 2019. Assume straight line amortization/ depreciation for assets and bonds payable