Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2009, turner inc., reports net asset

on january 1, 2009, turner inc., reports net assets of $480,000 although a building (with...

90.2K

Verified Solution

Question

Accounting

on january 1, 2009, turner inc., reports net assets of $480,000 although a building (with a 10 year life) having a book value of $260,000 is now worth $300,000. Plaster corporation pays $540,000 on that date for a 90 percent ownership in Turner. On December 31, 2011, Turner reports a building account of $182,000 and Plaster reports a building account of $510,000. What is the consolidated balance of the building account

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students