Compute consolidated buildings (net) at the date of the acquisition

A)  $2,450.

B)  $2,340.

C)  $1,800.

D)  $   650.

E)  $1,690.

Answer: A

Learning Objective: 02-05 

Learning Objective: 02-06a

Learning Objective: 02-07

Topic: Acquisition―Allocate fair value

Topic: Acquisition―Calculate consolidated balances

Topic: Consolidation worksheet

Difficulty: 2 Medium  

Blooms: Apply

AACSB: Knowledge Application

AICPA: BB Critical Thinking

AICPA: FN Measurement

Feedback: Atwood Acquisition Date Buildings($1,800 book value) + Franz Acquisition DateBuilding Fair Value ($650) = $2,450