On January 1, 2016, Poole Company purchased 75% of the common stock of Swimmer Company. Separate balance sheet data for the companies at the combination date are given below: Determine below what the consolidated balance would be for each of the requested accounts on January 2, 2016. What amount of inventory will be reported?
A) $170,000.
B) $177,000.
C) $186,500.
D) $192,000.

Question

On January 1, 2016, Poole Company purchased 75% of the common stock of Swimmer Company. Separate balance sheet data for the companies at the combination date are given below:  Determine below what the consolidated balance would be for each of the requested accounts on January 2, 2016. What amount of inventory will be reported?
A) $170,000. 
B) $177,000. 
C) $186,500. 
D) $192,000.

Quizplus · Accepted Answer

The Answer of On January 1, 2016, Poole Company purchased 75% of the common stock of Swimmer Company. Separate balance sheet data for the companies at the combination date are given below:  Determine below what the consolidated balance would be for each of the requested accounts on January 2, 2016. What amount of inventory will be reported?
A) $170,000. 
B) $177,000. 
C) $186,500. 
D) $192,000.

On January 1, 2016, Poole Company Purchased 75% of the Common