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What amount will be recorded by mercury as investment

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Mercury Corporation acquired 100 percent of the stock of Jupiter Company when the book value of Jupiter's net assets was $250,000. The fair value of Jupiter's net assets was $280,000 on the acquisition date.

Problem 1: Based on the preceding information, what amount will be recorded by Mercury as its investment in Jupiter if it paid $250,000 for the acquisition?

Option 1: $250,000
Option 2: $275,000
Option 3: $280,000
Option 4: $300,000

Reference no: EM132824617

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