11. JoJo Company owned 100% its common stock of Dio Corp. The corporations' balance sheets dated...

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11. JoJo Company owned 100% its common stock of Dio Corp. The corporations' balance sheets dated December 31, 2081, include the following balances for mansion: -JoJo - $880,000, and-Dio - $120,000. On the original date of acquisition, the book value of Dio's mansion was the same as its fair value. On Dec, 1st 2082, JoJo sold to Dio its mansion with a book value of $1,000,000. The selling price was $976,250. There were no other transfers, which affected the companies' mansion accounts during 2081. What is the consolidated balance for mansion on the 2082 balance sheet? 11. JoJo Company owned 100% its common stock of Dio Corp. The corporations' balance sheets dated December 31, 2081, include the following balances for mansion: -JoJo - $880,000, and-Dio - $120,000. On the original date of acquisition, the book value of Dio's mansion was the same as its fair value. On Dec, 1st 2082, JoJo sold to Dio its mansion with a book value of $1,000,000. The selling price was $976,250. There were no other transfers, which affected the companies' mansion accounts during 2081. What is the consolidated balance for mansion on the 2082 balance sheet?

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