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When Star Inc. acquired 80% of the common stock of Moon Corp., Moon owned land...

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Accounting

When Star Inc. acquired 80% of the common stock of Moon Corp., Moon owned land with a book value of $75,000 and a fair value of $125,000.

What is the amount of excess land allocation attributed to the controlling interest at the acquisition date?

$60,000.

$12,500.

$40,000.

$0.

$50,000

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