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Compute consolidated land immediately following the acquisition

A)  $2,060.

B)  $1,800.

C)  $   260.

D)  $2,050.

E)  $2,070.

Answer: D

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: $1,800 Book Value + $250 Fair Value = $2,050

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Written by Homework Lance

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