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What amount will be reported for consolidated equipment (net)?

A)  $385,000.

B)  $335,000.

C)  $435,000.

D)  $460,000.

E)  $360,000.

Answer: C 

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: Flynn Equipment ($360,000) + Fair Value of Macek Equipment ($75,000) = $435,000

What do you think?

Written by Homework Lance

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