Solution-What amount be represented as the subsidiary

What amount be represented as the subsidiary Equipment

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Q1. Raby, Inc. acquires all of the outstanding stock of Fletcher Corporation on January 1, 2017. At that date, Fletcher owns only three assets and has no liabilities:

	BV	FV
LAND	40,000	50,000
EQUIPMENT (10 YR LIFE)	80,000	75,000
BUILDING (20 YR LIFE)	200,000	300,000

Q2. If Raby pays $450,000 in cash for Fletcher, what amount would be represented as the subsidiary's Building in a consolidation at December 31, 2019, assuming the book value of the building at that date is still $200,000?

Q3. If Raby pays $450,000 in cash for Fletcher, what amount would be represented as the subsidiary's Equipment in a consolidation at December 31, 2019, assuming the book value of the equipment at that date is still $80,000?

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What amount be represented as the subsidiary Equipment

Reference no: EM132713646

Reference no: EM132713646

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