On January 1,2016,Poole Company purchased 75% of the common stock of Swimmer 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)$1,626,667.
B)$1,566,667
C)$1,980,000.
D)$2,006,667.

Question

On January 1,2016,Poole Company purchased 75% of the common stock of Swimmer 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)$1,626,667. 
B)$1,566,667 
C)$1,980,000. 
D)$2,006,667.

Quizplus · Accepted Answer

The Answer of On January 1,2016,Poole Company purchased 75% of the common stock of Swimmer 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)$1,626,667. 
B)$1,566,667 
C)$1,980,000. 
D)$2,006,667.

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