On July $1,2022,$ the fair value of the plant and equipment was $$630,000$ more than its carrying amount,

The acquisition$-$date fair values approximated their recorded book values for all of goodwill must the investor

vidual net assets of the investee. Related to this transaction, what $1,2022?$

report in its post$-$acquisition consolidated balance shec $,$$$1,620,000$

a$.$ $$630,000$

d$.$ $$2,250,000$

b$.$ $$990,000$

Use the following facts for Multiple Choice problems $27-30.$

Assume an investor acquired $100\%$ of the voting common stock of an investee on January $1,2015$ in a

transaction that qualifies as a business combination. As a result of the acquisition, the investor recognized no

the resulting Acquisition Accounting Premium relates to identesterestion. In addition, there are no intercom.

method to account for its pre$-$consolidation investm. The following summarized pre$-$consolidation financial

pany transactions between the investor and ing December $31,2022$:

statement information is for the year ending Decenber $31,2022$ :

LO$2$

LO$2$

LO$2$

Understanding consolidated balances

What amount of "retained earnings" will appear in the consolidated balance sheet at December $31,2022?$

a$.$ $$1,038,600$

b$.$ $$1,011,600$

c$.$ $$932,400$

d$.$ $$925,200$

LO$2$

Understanding consolidated balances

What amount of "total assets" will appear in the consolidated balance sheet at December $31,2022?$

a$.$ $$3,448,800$

b$.$ $$3,661,200$

c$.$ $$3,772,800$

d$.$ $$3,949,200$