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show how to solve it pls show t accounts if possible Reeder Corp. acquired one hundred percent of O'Neill Inc on January 1, 2019. at
show how to solve it pls show t accounts if possible
Reeder Corp. acquired one hundred percent of O'Neill Inc on January 1, 2019. at a price in excess of the subsidiary's fair value. On that date, Reeder's equipment (ten-year life) had a book value of $380.000 but a fair value of $460.000. O'Neill had equipment (ten-year life) with a book value of $240.000 and a fair value of $370,000. Reeder used the partial equity method to record its investment in O'Neill. On December 31, 2021. Reeder had equipment with a book value of $270,000 and a fair value of $400,000. O'Neill had equipment with a book value of $180,000 and a fair value of $300,000. What is the consolidated balance for the Equipment account as of December 31, 2021? Multiple Choice $450.000 $531,000. $541.000. $567.000 $580.000Step by Step Solution
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