Reference no: EM132783311
Question - Apex Company acquired 80% of the outstanding stock of Nadir Company. The separate balance sheet of Apex immediately after the acquisition and the consolidated balance sheet are as follows:
Apex Consolidated
Current assets $106,000 $146,000
Investment in Nadir (cost) 100,000 -0-
Property, plant, & equipment 270,000 363,000
Goodwill -0- 5,000
Total assets $476,000 $514,000
Current liabilities $ 15,000 $ 28,000
Non-controlling interest -0- 25,000
Common stock 350,000 350,000
Retained earnings 111,000 111,000
Total liabilities & stockholders' equity $476,000 $514,000
Ten thousand dollars of the excess payment for the investment in Nadir was ascribed to the undervaluation of its property, plant, & equipment; the balance of the excess payment was ascribed to goodwill. Accordingly, what was the total for property, plant, & equipment on Nadir's separate balance sheet at the time Apex acquired its 80% interest?
a. $83,000
b. $93,000
c. $88,000
d. $103,000
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