<span>It's false that uncollectible accounts should not be estimated because it is impossible to know which accounts will not be collected. </span>
I think c because that is what I got
Answer:
A. $549000
Explanation:
Given information
Number of outstanding stock of Sherry, Inc = 60%
The cost of the land = $207,000
Fair value at the acquisition date = $549,000
By considering the above information, the value reflected in a consolidated balance sheet is $549,000.
The historical principle says that the fixed assets should be recorded at the purchase price or acquisition cost only and the same is to be considered
Answer:
Kindly check attached picture
Explanation:
Kindly check attached picture for detailed statement using the direct method
