What is the consolidated balance for Land

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Question - When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of $70,000 and a fair value of $100,000. Jolt owned land with a book value of $100,000 and a fair value of $200,000. Yelts owned bonds payable that has a book value of $20,000 and a fair value of $19,000. Jolt owned bonds payable that has a book value of $40,000 and a fair value of $41,000. After consolidation on acquisition date, what is the consolidated balance for (1) Land and (2) Bonds payable?

Reference no: EM133062654

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