On December 31,20X8,Pancake Company acquired controlling ownership of Syrup Company.A consolidated balance sheet was prepared immediately.Partial balance sheet data for the two companies and the consolidated entity at that date follow:
During 20X8,Pancake Company provided consulting services to Syrup Company and has not yet paid for them.There were no other receivables or payables between the companies at December 31,20X8.
-Based on the information given,what was the fair value of Syrup Company as a whole at the date of acquisition?
Definitions:
Evaluate
The process of calculating the value of an expression.
Calculate
To ascertain by mathematical methods; to solve or compute.
Verify
To check or test the accuracy, truth, or quality of something.
Verify
To confirm the accuracy, truth, or validity of something through examination or comparison.
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