Hanson Co Acquired All of the Common Stock of Roberts Inc

question 119

Essay

Hanson Co. acquired all of the common stock of Roberts Inc. on January 1, 2020, transferring consideration in an amount slightly more than the fair value of Roberts' net assets. At that time, Roberts had buildings with a twenty-year useful life, a book value of $600,000, and a fair value of $696,000. On December 31, 2021, Roberts had buildings with a book value of $570,000 and a fair value of $648,000. On that date, Hanson had buildings with a book value of $1,878,000 and a fair value of $2,160,000.Required:What amount should be shown for buildings on the consolidated balance sheet dated December 31, 2021?

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Cooperative Relationships

Collaborative and mutually beneficial partnerships between businesses or within an organization to achieve common goals.

Reverse Marketing

A strategy where buyers actively seek out suppliers or convince potential suppliers to provide goods or services, reversing the traditional marketing roles.

World-class Suppliers

Suppliers that offer best-in-class services, quality, and efficiency, often recognized for their excellence through industry awards or certifications.

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