On January 1, 2016, Pamela Company purchased 75% of the common stock of Snicker Company. Separate balance sheet data for the companies at the combination date are given below: Determine below what the consolidated balance would be for each of the requested accounts on January 2, 2016. What is the amount of total assets?
A) $921,000
B) $1,185,000
C) $1,525,000
D) $1,195,000

Question

On January 1, 2016, Pamela Company purchased 75% of the common stock of Snicker Company. Separate balance sheet data for the companies at the combination date are given below:  Determine below what the consolidated balance would be for each of the requested accounts on January 2, 2016. What is the amount of total assets?
A) $921,000 
B) $1,185,000 
C) $1,525,000 
D) $1,195,000

Quizplus · Accepted Answer

The Answer is D

On January 1, 2016, Pamela Company Purchased 75% of the Common