A) $1,520,000.
B) $1,480,000.
C) $1,440,000.
D) $1,180,000.
E) $1,100,000.
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 Long-Term Liabilities ($1,140,000) + Fair Value of Macek Long-Term Liabilities ($300,000) = $1,440,000
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