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question truman co acquired 60 of atlanta co for 210 000 on december 31 2014 when at 4282466

Question

Truman Co. acquired 60% of Atlanta Co. for $210,000 on December 31, 2014 when Atlanta's book value was $280,000. The Truman stock was not actively traded. On the date of acquisition, Atlanta had equipment (with a ten-year life) that was undervalued in the financial records by $70,000. Additionally, no dividends have been paid. One year later, equipment in Truman company has a book value equal to $182,000 while in Atlanta company has a book value equal to $140,000 and fair value equal to $200,000. What is the consolidated balance of the Equipment account at December 31, 2015?

 

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