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Problem 10-24(Algo)(LO 10-1,10-3,10-4) On December 18,2020, Stephanie Corporation acquired 100 percent of a...

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Accounting

Problem 10-24(Algo)(LO 10-1,10-3,10-4)
On December 18,2020, Stephanie Corporation acquired 100 percent of a Swiss company for 4.006 million Swiss francs (CHF), which is indicative of book and fair value. At the acquisition date, the exchange rate was $1.00= CHF 1. On December 18,2020, the book and fair values of the subsidiary's assets and liabilities were as follows:
References
\table[[Cash,806,000],[Inventory,CHF],[Property, plant, and equipment,1,306,000
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