On January 1, 2016, Poole Company Purchased 75% of the Common

question 16

Multiple Choice

On January 1, 2016, Poole Company purchased 75% of the common stock of Swimmer Company. Separate balance sheet data for the companies at the combination date are given below: Determine below what the consolidated balance would be for each of the requested accounts on January 2, 2016. What is the amount of total assets?

• A) $1,626,667.
• B) $1,566,667
• C) $1,980,000.
• D) $2,006,667.