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What is the consolidated balance for the Equipment account

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Question - Paar Corporation bought 100 percent of Kimmel, Inc., on January 1, 2015. On that date, Paar's equipment (10-year life) has a book value of $425,000 but a fair value of $607,000. Kimmel has equipment (10-year life) with a book value of $209,000 but a fair value of $376,000. Paar uses the equity method to record its investment in Kimmel. On December 31, 2017, Paar has equipment with a book value of $297,500 but a fair value of $512,700. Kimmel has equipment with a book value of $146,300 but a fair value of $367,500. What is the consolidated balance for the Equipment account as of December 31, 2017?

Reference no: EM132780098

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