Cheers acquired 100% of Tapp's shares for $150,000.On the acquisition date,the fair value of the current assets and the net capital assets were $104,000 and $216,000 respectively.The fair value of the liabilities equalled their book value.On Cheers' consolidated statement of financial position,what is the total of its shareholders' equity?
A)$92,000
B)$392,000
C)$484,000
D)$542,000

Question

Cheers acquired 100% of Tapp's shares for $150,000.On the acquisition date,the fair value of the current assets and the net capital assets were $104,000 and $216,000 respectively.The fair value of the liabilities equalled their book value.On Cheers' consolidated statement of financial position,what is the total of its shareholders' equity?
A)$92,000 
B)$392,000 
C)$484,000 
D)$542,000

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The Answer of 
Cheers acquired 100% of Tapp's shares for $150,000.On the acquisition date,the fair value of the current assets and the net capital assets were $104,000 and $216,000 respectively.The fair value of the liabilities equalled their book value.On Cheers' consolidated statement of financial position,what is the total of its shareholders' equity?
A)$92,000 
B)$392,000 
C)$484,000 
D)$542,000

Cheers Acquired 100% of Tapp's Shares for $150,000