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What amount will be recorded by Mercury as its investment

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Question - Mercury Corporation acquired 100 percent of the stock of Jupiter Company when the book value of Jupiter's net assets was $250,000. The fair value of Jupiter's net assets was $280,000 on the acquisition date.

Based on the preceding information, what amount will be recorded by Mercury as its investment in Jupiter if it paid $250,000 for the acquisition?

Reference no: EM132881333

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