Question: Please explain. no other information is given The fair values of all of Sirius's assets and liabilities were equal to their book values except for

Please explain. no other information is given

The fair values of all of Sirius's assets and liabilities were equal to their book values except for inventory that had a fair value of $85,000, land that had a fair value of $60,000, and buildings and equipment that had a fair value of $250,000. Buildings and equipment have a remaining useful life of 10 years with zero salvage value. Paradox Company decided to employ push-down accounting for the acquisition. Subsequent to the combination, Sirius continued to operate as a separate company.

Based on the preceding information, what amount will be present in the revaluation capital account, when consolidating entries are prepared?

$65,000

$15,000

$60,000

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