Ask Question
10 April, 06:13

On the date of purchase, Skywalker's inventory and buildings and equipment had fair values of $255,000 and $870,000, respectively. Based on the information given above, the amount to be reported for inventory in the consolidated balance sheet immediately after the

+1
Answers (1)
  1. 10 April, 06:27
    0
    Inventory to be shown in balance sheet = $955000

    Explanation:

    According to the given dа ta:

    Fair value of Skywalker's inventory = $255000

    Fair value of Skywalker's buildings and equipment is = $870000

    Calculation of amount to be reported for inventory in consolidated balance sheet is as follows:

    Inventory = ($700000 + $255000)

    = $955000

    Note: Inventory of parent company and subsidiary company is to be added in preparing consolidated balance sheet
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On the date of purchase, Skywalker's inventory and buildings and equipment had fair values of $255,000 and $870,000, respectively. Based on ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers