Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sandy corporation bought 100 percent of miller, in

Sandy Corporation bought 100 percent of Miller, Inc., on December 31, 20X1. On that date,...

60.1K

Verified Solution

Question

Accounting

Sandy Corporation bought 100 percent of Miller, Inc., on December 31, 20X1. On that date, Sandy's equipment (10-year remaining life) has a book value of $500,000 but a fair value of $600,000. Miller has equipment (10-year remaining life) with a book value of $300,000 but a fair value of $380,000. What is the consolidated balance for the Equipment account as of December 31, 20X1?

A $800,000

B $900,000

C $980,000

D $880,000

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Describe the Aronson and mills (1959) study. what was the research question? what were the methods?...

Psychology
Q

Classification of Photosynthetic Organisms Trait gymnosperm Has true roots stems and leaves Produces seeds in...

Biology
Q

thedvani c thedvanm What is indicated by this sign A Red Cross donation center is...

Biology
Q

1 Fill in the blank A regular polyhedron whos

Calculus
Q

please solve it using weighted average method while showing T-accounts and every step. solve...

Accounting
Q

1. Durante 2014, Salt-n-Pepa Inc. se vio envuelta en una disputa fiscal con el IRS....

Accounting
Q

The following information was taken from the accounting records of Puzzles Incorporated. Required: Calculation the...

Accounting
Q

Poe Company is considering the purchase of new equipment costing $80,000. The projected net cash...

Accounting
Q

Use the information provided below to answer the following questions: 5.1 Calculate the Payback...

Accounting
Q

summarize the May transactions for Linda Repair 1. Stockholders invested $8,400 cash in...

Accounting
Q

Consider the following information: Portfolio Expected Return Standard Deviation...

Finance
Q

Christine's Chronographs makes two models of a high-end watchthe model 94 and the model 101....

Finance