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On January 1, 2012, the Husky Corporation purchased 90% of the Spartan Company's voting stock for $2,700,000. Spartan's net assets had a book value of $2,450,000; the fair value of Spartan's building was $325,000 greater than its book value. The book value of Husky's net assets immediately after the acquisition of Spartan totaled $6,850,000. Husky used the acquisition method to prepare its consolidated balance sheet. What is total stockholders' equity on the January 1, 2012 consolidated balance sheet?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M950304

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