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What is the consolidated balance for the equipment

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Question - Paar Corporation bought 100 percent of Kimmel, Inc., on January 1, 2018. On that date, Paar's equipment (10-year remaining life) has a book value of $445,000 but a fair value of $631,000. Kimmel has equipment (10-year remaining life) with a book value of $282,000 but a fair value of $468,000. Paar uses the equity method to record its investment in Kimmel. On December 31, 2020, Paar has equipment with a book value of $311,500 but a fair value of $197,400 but a fair value of $431,600. What is the consolidated balance for the Equipment account as of December 31, 2020?

Reference no: EM133037104

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