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  3. on december 31,2009, x company acquired 100% perce

On December 31,2009, X Company acquired 100% percent of the common stock of Y Company....

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Accounting

On December 31,2009, X Company acquired 100% percent of the common stock of Y Company. At the time, X held Furniture with historical cost of $120,000 , accumulated depreciation $20,000 and a fair value of $260,000; Y held Furniture with historical cost of $50,000 ,accumulated depreciation $10,000 and fair value of $60,000. at what amount would net book value of furniture be reported in X Company balance sheet prepared immediately after the merger ?

Select one: a. 170,000 b. 150,000 c. 160,000 d. 180,000 ................ On January 1, 2018, Pare Company acquired 75 percent of Kidd Companys common stock at an amount equal to its underlying book value

Selected balance sheet data at December 31, 2018, are as follows:

Pare Company Kidd Company

Total Assets $420,000 $180,000

Liabilities $120,000 $ 60,000

Common Stock 100,000 50,000

Retained Earnings 200,000 70,000

In consolidated balance sheet at December 31, 2018, what amount should Pare report as common stock ?

Select one: a. 100,000 b. 150,000 c. 50,000 d. 137,500

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