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  3. on january 1, year 1, turner, inc., reports net as

On January 1, Year 1, Turner, Inc., reports net assets of $ 480,000 although a...

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Accounting

On January 1, Year 1, 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, Year 3, 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?

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