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n200080 [17]
3 years ago
12

Primo Corporation acquired 60 percent of Secondo Corporation’s voting common stock. On the date of acquisition, Primo had equipm

ent with a book value of $50,000 and a fair value of $150,000. Secondo’s buildings and equipment had a book value of $200,000 and a fair value of $200,000 at the time of the acquisition. What will be the amount at which buildings and equipment will be reported in consolidated statements immediately following the acquisition?
A) $150,000
B) $200,000
C) $230,000
D) $250,000
Business
1 answer:
Gnesinka [82]3 years ago
5 0

Answer: $250,000

Explanation:

The amount at which buildings and equipment will be reported in consolidated statements immediately following the acquisition will be the value of the book value of Primo's equipment which is $50,000 plus Secondo’s book value of its buildings and equipment which is $200,000.

Therefore, the answer will be:

= $50,000 + $200,000

= $250,000

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