On1/1/ 2019,X Co acquired 100% of the common stock of Y Co. At that time,...
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Accounting
On1/1/ 2019,X Co acquired 100% of the common stock of Y Co. At that time, X held lands with a book value of $50,000 and a fair value of $ 130,000; Y held lands with a book value of $25,000 and fair value of $300,000.at what amount would lands be reported in X Co balance sheet prepared immediately after the merger ?
Select one:
a. 430,000
b. 350,000
c. 275,000
d. 295,000
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