What value should be attributed to land in a balance sheet

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Reference no: EM131914746

Problem

Mittelstaedt Inc., buys 60 percent of the outstanding stock of Sherry, Inc. Sherry owns a piece of land that cost $277,000 but had a fair value of $597,000 at the acquisition date. What value should be attributed to this land in a consolidated balance sheet at the date of takeover?

Reference no: EM131914746

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What value should be attributed to land in a balance sheet : Mittelstaedt Inc.,buys 60 percent of the outstanding stock. What value should be attributed to the land in a consolidated balance sheet at the date of takeover?

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