Hanson CoAcquired All of the Common Stock of Roberts Inc

question 88

Essay

Hanson Co.acquired all of the common stock of Roberts Inc.on January 1, 2017, 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, 2018, 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, 2018?

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Soccer Team

A group of players, typically eleven, who participate together in the sport of soccer, competing in matches against other teams.

Random Variable

An unpredictable phenomenon's numerical outcome represented as a variable.

Random Variable

A random variable is a variable whose values depend on outcomes of a random phenomenon.

Manufacturer

An entity or company that makes goods for sale through the process of manufacturing.