On March 17,20X2,Cho Co

question 5

Multiple Choice

On March 17,20X2,Cho Co.acquired 100% of the shares of Bisset Ltd.for $1,000,000.The net assets of Bisset included 10 acres of land,which was carried on Bisset's books at $100,000 even though its market value was approximately $350,000.Cho did not own any land prior to the acquisition of Bisset's net assets.If push down accounting was applied,what amount would be shown for land on the consolidated the separate-entity balance sheets for Bisset on March 18,20X2?

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