What is the consolidated balance for the equipment account

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Paar Corporation bought 100 percent of Kimmel, Inc., on January 1, 2012. On that date, Paar’s equipment (10-year life) has a book value of $440,000 but a fair value of $566,000. Kimmel has equipment (10-year life) with a book value of $261,000 but a fair value of $387,000. Paar uses the equity method to record its investment in Kimmel. On December 31, 2014, Paar has equipment with a book value of $308,000 but a fair value of $457,500. Kimmel has equipment with a book value of $182,700 but a fair value of $343,700. What is the consolidated balance for the Equipment account as of December 31, 2014?

Reference no: EM131247782

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