00. The fair value of the plant at the acquisition date was $160 000. The company tax rate is 30%. If the consolidation performed at the acquisition date, the business combination valuation entry for the plant will include the following a. Debit BCVR $28,000 b. Credit BCVR $28,000 Credit BCVR $40,000 Credit BCVR $200.000
00. The fair value of the plant at the acquisition date was $160 000. The company tax rate is 30%. If the consolidation performed at the acquisition date, the business combination valuation entry for the plant will include the following a. Debit BCVR $28,000 b. Credit BCVR $28,000 Credit BCVR $40,000 Credit BCVR $200.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Plz answer without plagiarism i give up vote for correct answer

Transcribed Image Text:Wayne Ltd acquired 100% of the issued shares of Carol Ltd when the carrying amount of Carol Ltd's plant was $200
000. The fair value of the plant at the acquisition date was $160 000. The company tax rate is 30%. If the consolidation
is performed at the acquisition date, the business combination valuation entry for the plant will include the following
a. Debit BCVR $28,000
b. Credit BCVR $28,000
Credit BCVR $40,000
d. Credit BCVR $200,000
C.
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