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What consolidate balance for equipment account as of dec

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Plummer Corporation buys 80% of Matador Inc. on January 1, 2018, at a price in excess of the subsidiary's fair market value. On that date, Plummer's equipment (10 year life) has a book value of $300,000 but a fair market value of $400,000. Matador has equipment (10 year life) with a book value of $200,000 but a fair market value of $300,000. Plummer uses the partial equity method to record its investment in Matador. On December 31, 2020, Plummer has equipment with a book value of $210,000 but a fair market value of $330,000. Matador has equipment with a book value of $140,000 buy a fair market value of $270,000.

Question1 : What is the consolidated balance for the equipment account as of December 31, 2020?

Reference no: EM132519097

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