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    golfballer711's Avatar
    golfballer711 Posts: 1, Reputation: 1
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    #1

    Dec 4, 2008, 09:40 PM
    partial equity method
    Parrett Corp. bought one hundere percent of Jones Inc. on January 1, 2009, at a price in excess of the subsidiary's fair value. On that date, Parrett's equipment (ten-year life) had a book value of $360,000 but a fair value of $480,000. Jones had equipment (ten-year life) with a book value of $240,000 and a fair value of $350,000. Parrett used the partial equity method to record its investment in Jones. On December 31, 2011, Parrett had equipment with a book value of $250,000 and a fair value of $400,000. Jones had equipment with a book value of $170,000 and a fair value of $320,000. What is the consolidated balance for the Equipment account as of December 31,2011?
    yks0512's Avatar
    yks0512 Posts: 1, Reputation: 1
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    #2

    Sep 18, 2010, 01:50 PM
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    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    Sep 18, 2010, 08:38 PM

    Old thread. Closed.
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