Multiple Choice
When Valley Co. acquired 80% of the common stock of Coleman Corp., Coleman 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?
A) $0.
B) $12,500.
C) $40,000.
D) $50,000.
E) $60,000.
Correct Answer:
Verified
Correct Answer:
Verified
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