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Determine the equity total on the consolidated balance sheet

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Reference no: EM132652638

Question - Beni Corp. acquired 100% of Carr Corp's outstanding voting interests for $430,000 cash. Immediately before the acquisition, the balance sheets of the corporations reported the following:

 

Beni

Carr

Assets

$2,000,000

$750,000

Liabilities

645,000

255,000

Common Stock

1,105,000

455,000

Retained earnings

250,000

40,000

Total liabilities & equity

$2,000,000

$750,000

At the acquisition date, the fair value of Carr's net assets was $26,000 more than their carrying amount. There was no bargain purchase gain recorded on the acquisition date. In the consolidated balance sheet prepared immediately after the acquisition, determine the equity total on the consolidated balance sheet?

Reference no: EM132652638

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