Presented below is the balance sheet of Hal Company at January 1,2015: The balance sheet of Monty Company at January 1,2015 is below:
On January 1,2015,Monty Company acquired 100 percent of the outstanding common stock of Hal Company for $260 cash.What is the balance in the Investment in Hal Company account on the consolidated balance sheet immediately after the acquisition of Hal Company's stock? (Assume elimination entries are completed.)
A)$0
B)$260
C)$380
D)$500

Question

Presented below is the balance sheet of Hal Company at January 1,2015:   The balance sheet of Monty Company at January 1,2015 is below:
  On January 1,2015,Monty Company acquired 100 percent of the outstanding common stock of Hal Company for $260 cash.What is the balance in the Investment in Hal Company account on the consolidated balance sheet immediately after the acquisition of Hal Company's stock? (Assume elimination entries are completed.)
A)$0 
B)$260 
C)$380 
D)$500

Quizplus · Accepted Answer

The Answer of Presented below is the balance sheet of Hal Company at January 1,2015:   The balance sheet of Monty Company at January 1,2015 is below:
  On January 1,2015,Monty Company acquired 100 percent of the outstanding common stock of Hal Company for $260 cash.What is the balance in the Investment in Hal Company account on the consolidated balance sheet immediately after the acquisition of Hal Company's stock? (Assume elimination entries are completed.)
A)$0 
B)$260 
C)$380 
D)$500

Presented Below Is the Balance Sheet of Hal Company at January