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How much is the consolidated equipment - net in the december

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Problem 1: On January 1, 20x1, the acquirer acquired 75% of the acquiree. At that time, the acquiree's equipment has a carrying amount of ?100,000 and a fair value of ?120,000. The equipment has a remaining useful life of 10 years. On December 31, 20x2, the acquirer and acquiree reported equipment with carrying amounts of ?500,000 and ?300,000, respectively. How much is the consolidated "equipment - net" in the December 31, 20x2 financial statements?

Reference no: EM132779996

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