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Beesly Co. owned all of the voting common stock of Halpert Corp. The corporations' balance sheets dated December 31, 202
Posted: Sun Jun 05, 2022 7:02 pm
by answerhappygod
- Beesly Co Owned All Of The Voting Common Stock Of Halpert Corp The Corporations Balance Sheets Dated December 31 202 1 (33.83 KiB) Viewed 53 times
Beesly Co. owned all of the voting common stock of Halpert Corp. The corporations' balance sheets dated December 31, 2020, include the following balances for land. -Beesly - $461,000, and -Halpert - $265,000. On the original date of acquisition, the book value of Halpert's land was equal to its fair value. On May 2, 2021, Beesly sold to Halpert a parcel of land with a book value of $75,000. The selling price was $88,000. There were no other transfers, which affected the companies' land accounts during 2020. What is the consolidated balance for land on the 2021 balance sheet?