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Price Company acquired 75 percent of the common stock of Shandie Corporation on December 31, 2013. On the date of acquisition, Price held land with a book value of $150,000 and a fair value of $300,000; Shandie held land with a book value of $100,000 and fair value of $500,000. What amount would land be reported in the consolidated balance sheet prepared immediately after the combination?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M954611

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