Need Answer of this Question On January 1, 2010 Hand acquires 100% of Finger in astatutory merger. At the acquisition date, the following were thebook values and fair values of fixed assets of these twocompanies:Book Value Fair ValueHand 900,000800,000Finger 200,000300,000a. What is consolidated fixed assets under the acquisitionmethod.b. What is consolidated fixed assets under the purchasemethod.c. What is consolidated fixed assets under the pooling ofinterests method.

Step 1: Define Fixed Asset:Fixed asset can be defined as valuables that are held by the company…

Answered: On January 1, 2010 Hand acquires 100%…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 30E

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