Price Company purchased 90% of the outstanding common stock of
Score Company on January 1, 2009, for $450,000. At that time, Score
Company had stockholders' equity consisting of common stock,
$200,000; other contributed capital, $160,000; and retained
earnings $90,000. On December 31, 2013, trial balances for Price
Company and Score Company were as follows:
Price
Score
Cash
1,09,000
78,000
Accounts recevaable
1,66,000
94,000
Note receivable
75,000
0
Inventory
3,09,000
1,58,000
Investment in score company
6,33,600
0
Plant and equipment
9,40,000...