A) $1,000.
B) $ 960.
C) $ 920.
D) $ 400.
E) $ 320.
Answer: A
Learning Objective: 02-05
Learning Objective: 02-06a
Learning Objective: 02-07
Topic: Acquisition―Allocate fair value
Topic: Acquisition―Calculate consolidated balances
Difficulty: 2 Medium
Blooms: Apply
AACSB: Knowledge Application
AICPA: BB Critical Thinking
AICPA: FN Measurement
Feedback: Moody’s Land (Book Value of $600) + Osario Land (Fair Value on Acquisition Date of $400) = $1,000
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