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The following information pertains to the Parent company and its subsidiary's depreciable assets at the end of the year. Parent Company Subsidiary Company Depreciable Assets
The following information pertains to the Parent company and its subsidiary's depreciable assets at the end of the year. Parent Company Subsidiary Company Depreciable Assets at Cost $800,000 $220,000 Accumulated depreciation 325,000 62,000 Carrying value $475,000 $158,000 Market fair value $505,000 $165,000 At what amount should the depreciable assets be reported on the consolidated balance sheet ? $640,000 $633,000 $670,000 $505,000
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