Willkom Corporation bought 100 percent of Szabo, Inc., on January 1, 2011.On that date, Willkom’s equipment (10-year life) has a book value of $300,000 but a fair value of $400,000.Szabo has equipment (10-year life) with a book value of $200,000 but a fair value of $300,000.Willkom uses the equity method to record its investment in Szabo.On December31, 2013,Willkom has equipment with a book value of $210,000 but a fair valueof $330,000. Szabo has equipment with a book value of $140,000 but a fair value of $270,000. Whatis the consolidated balance for the Equipment account as of December 31,2013?
a. $600,000.
b. $490,000.
c. $480,000.
d. $420,000.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.