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Utah Inc. acquired all of the outstanding common stock of Trimmer Corp. on January 1, 2009. At that date, Trimmer owned only three assets and

Utah Inc. acquired all of the outstanding common stock of Trimmer Corp. on January 1, 2009. At that date, Trimmer owned only three assets and had no liabilities: Book Value: Inventory 36,000 Equipment (5 year life) 84,000 Building (10 year life) 120,000 Fair Value: Inventory 48,000 Equipment 60,000 Building 180,000 If Utah paid $300,000 in cash for Trimmer, what allocation should have been assigned to the subsidiary's Building account and its Equipment account in a December 31, 2011 consolidation

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