On June 30, 2018, Streeter Company reported the following account balances Receivables Inventory Buildings (net) Equipment...
On June 30, 2021, Streeter Company reported the following account balances: Receivables Inventory Buildings (net) Equipment (net) Total assets $ 64,000 Current liabilities 94,000 Long-term liabilities 86,500 Common stock 31,000 Retained earnings $ 275,500 Total liabilities and equities $ (11,500) (74,000) (90,000) (100,000) $ (275,500) On June 30, 2021, Princeton Company paid $311,500 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition, Princeton paid $7,700 in legal...
On June 30, 2018, Streeter Company reported the following account balances: Receivables $ 64,000 Current liabilities $ (11,500 ) Inventory 94,000 Long-term liabilities (74,000 ) Buildings (net) 86,500 Common stock (90,000 ) Equipment (net) 31,000 Retained earnings (100,000 ) Total assets $ 275,500 Total liabilities and equities $ (275,500 ) On June 30, 2018, Princeton Company paid $311,500 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition,...
On June 30, 2018, Streeter Company reported the following account balances: Receivables $ 74,250 Current liabilities $ (13,400 ) Inventory 73,000 Long-term liabilities (55,250 ) Buildings (net) 85,300 Common stock (90,000 ) Equipment (net) 26,100 Retained earnings (100,000 ) Total assets $ 258,650 Total liabilities and equities $ (258,650 ) On June 30, 2018, Princeton Company paid $309,800 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition,...
On June 30, 2018, Streeter Company reported the following account balances: Receivables $ 69,800 Current liabilities $ (16,400 ) Inventory 78,500 Long-term liabilities (53,000 ) Buildings (net) 83,500 Common stock (90,000 ) Equipment (net) 27,600 Retained earnings (100,000 ) Total assets $ 259,400 Total liabilities and equities $ (259,400 ) On June 30, 2018, Princeton Company paid $322,100 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition,...
On June 30, 2021, Streeter Company reported the following account balances: Receivables $ 50,700 Current liabilities $ (15,800 ) Inventory 87,750 Long-term liabilities (51,250 ) Buildings (net) 84,100 Common stock (90,000 ) Equipment (net) 34,500 Retained earnings (100,000 ) Total assets $ 257,050 Total liabilities and equities $ (257,050 ) On June 30, 2021, Princeton Company paid $309,000 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition,...
On May 1, Donovan Company reported the following account balances: Current assets Buildings & equipment (net) Total assets Liabilities Common stock Retained earnings Total liabilities and equities $ 90,000 220,000 $ 310,000 $ 60,000 150,000 100,000 $ 310,000 On May 1. Beasley paid $400,000 in stock (fair value) for all of the assets and liabilities of Donovan, which will cease to the merger, Beasley incurred $15,000 in accounts payable for legal and accounting fees. Beasley also agreed to pay $75,000...
On May 1, Donovan Company reported the following account balances: Current assets Buildings & equipment (net) $ 130,000 260,000 Total assets $390,000 Llabilities Common stock Retained earnings $ 98,500 150,000 141,500 Total liabilities and equities $390,000 On May 1, Beasley paid $465,200 in stock (fair value) for all of the assets and liabilities of Donovan, which will cease to exist as a separate entity. In connection with the merger, Beasley incurred $15,900 in accounts payable for legal and accounting fees....
On May 1, Donovan Company reported the following account balances: Current assets Buildings & equipment (net) Total assets Liabilities Common stock Retained earnings Total liabilities and equities $ 90,000 220,000 $ 310,000 $ 60,000 150,000 100,000 $ 310,000 On May 1, Beasley paid $400,000 in stock (fair value) for all of the assets and liabilities of Donovan, which will cease to exist as a separate entity. In connection with the merger. Beasley incurred $15,000 in accounts payable for legal and...
On May 1, Donovan Company reported the following account balances: Current assets Buildings & equipment (net) $ 111,000 239,500 Total assets $350,500 Llabilities Common stock Retained earnings $ 67,500 150,000 133,000 Total liabilities and equities $350,500 On May 1, Beasley paid $449,600 In stock (fair value) for all of the assets and llabilities of Donovan, which will cease to exist as a separate entity. In connection with the merger, Beasley Incurred $17,200 in accounts payable for legal and accounting fees....
On May 1, Soriano Co. reported the following account balances along with their estimated fair values: Carrying Amount Fair Value Receivables $ 83,900 $ 83,900 Inventory 74,600 74,600 Copyrights 150,500 586,500 Patented technology 890,000 691,000 Total assets $ 1,199,000 $ 1,436,000 Current liabilities $ 178,000 $ 178,000 Long-term liabilities 683,000 669,700 Common stock 100,000 Retained earnings 238,000 Total liabilities and equities $ 1,199,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which...