Question: For Chapter 3, Problem 2, One of the first steps they determined to book value of S corp was 220. How are they getting to

For Chapter 3, Problem 2, One of the first steps they determined to book value of S corp was 220. How are they getting to this value? There is not an explanation within the solution.

For Chapter 3, Problem 2, One of the first steps they determined

to book value of S corp was 220. How are they getting

Chrome File Edit View View History Bookmarks People Tab Window Help 100% 6 Sun 12:30 PM Sun 12:30 PM QE Restart C Get Homework Help With Chex Solved: Chapter 3 Problem 2P x : + Updates Available Do you want to restart to install these updates now or try tonight? Later . chegg.com/homework-help/Advanced-Accounting-13th-edition-chapter-3-problem-2P-solution-9780134472140 = Chegg Study Textbook Solutions Expert Q&A Practice Study Pack Answers Trom our expers for your son homework questions Chapter 3, Problem 2P 3 Bookmarks Show all steps: ON Enter question Step 1 of 7 A 1 Continue to post Consolidated Balance Sheet: 19 questions remaining This is the summarized view of assets and liabilities of the Parent Company and its subsidiaries, joint ventures, and associates. It is a part of financial statements of the company. It also represents all the assets that are under control of the parent company. The Consolidated balance sheet is prepared for the stockholder's of the company and no adjustments regarding the same are done in the books of accounts. Snap a photo from your phone to post a question We'll send you a one-time download link Comment 888-888-8888 Text me Step 2 of 7 A By providing your phone number, you agree to receive a one time automned text message with a link to get the app. Standard messaging rates may apply. a. My Textbook Solutions Solutions + + Add a textbook In the given case, the details of assets and liabilities of both the Corporations are provided. The fair value and books of assets and liabilities of S Corporation are also given. P Corporation has acquired 70 percent share in the S Corporation. Compute the amount of Excess Fair Value over Book value using the equation as shown below. Excess Amount = Fair Value of S Corporation Book Value of S Corporation Cost of Investment 5220 Share Acquired S350 -$220 70% - S280 So the excess amount of fair value over book value comes out to be $280. $ Add a textbook by Ches Advanced Accounting 15th Edition View all solutions Accounting Chegg tutors who can help right now Comments (2) 6 A 09 AB 0 Chrome File Edit View View History Bookmarks People People Tab Window Help 100% 24 Sun 12:36 PM Q C Get Homework Help With Che x Get Homework Help With Chex C For Chapter 3 Problem 2, One X + chenn com/homework-heinlauestione-and-answers/chanter-3-mblem-2-one-first-stenc-determined-hank-ya-c-com-220-mattino-value-eynlana-n55771448 Ptrackid=w YekX VitalSource Text - Advanced Accounting ACC 401-0L01 saintle brightspace.com/d2l/le/content/105683/fullscreen/3786254/View O VitalSource eText

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