Answer | |
The Correct Option is A : $107,700 | |
Explanation | |
Legal and accounting fees accounts payable |
$ 17,200 |
Liabilities assumed | $ 67,500 |
Contingent liabilities | $ 23,000 |
Total liabilities | $ 107,700 |
Option C $107,700 | |
On May 1, Donovan Company reported the following account balances: Current assets Buildings & equipment (net)...
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 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) 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 $ 130,000 Buildings & equipment (net) 260,000 Total assets $ 390,000 Liabilities $ 98,500 Common stock 150,000 Retained earnings 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...
On May 1, Donovan Company reported the following account balances: Current assets $ 102,500 Buildings & equipment (net) 223,500 Total assets $ 326,000 Liabilities $ 70,000 Common stock 150,000 Retained earnings 106,000 Total liabilities and equities $ 326,000 On May 1, Beasley paid $413,100 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 $20,300 in accounts payable for legal and...
Required information [The following information applies to the questions displayed below.] 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 $ 97,500 224,500 $ 322,000 $ 51,500 150,000 120,500 $ 322,000 On May 1. Beasley paid $445,300 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 following information applies to the questions displayed below) On May 1, Donovan Company reported the following account balances: $ 90, 220.000 310.000 $ Current assets Buildings & equipment (net) Total assets Liabilities C on stock Retained earnings Total liabilities and equities 150.000 100,000 $310.00 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...
Required information [The following information applies to the questions displayed below.] On May 1, Donovan Company reported the following account balances: Current assets $ 98,500 Buildings & equipment (net) 250,000 Total assets $ 348,500 Liabilities $ 78,500 Common stock 150,000 Retained earnings 120,000 Total liabilities and equities $ 348,500 On May 1, Beasley paid $431,100 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...
6 Required formation [The following information applies to the questions displayed below.) Skipped 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 $ 133,500 234,500 $ 368,000 $ 93,500 150,000 124,500 $ 368,000 On May 1, Beasley paid $445,600 in stock (fair value) for all of the assets and liabilities of Donovan, which will cease to exist as a separate entity. In...
choices are A) 17,600 B) 77,400 C) 150,000 D) 55,600 Saved AZ Required information [The following infor ation applies to the questions displayed below.) On May 1, Donova Company reported the following account balances: Current assets Buildings & equipment (net) Total assets Liabilities Common stock Retained earnings Total liabilities and equities $ 101,000 234,000 $ 335,000 $ 38,000 150,000 147,000 $ 335,000 On May 1, Beasley paid $474,600 in stock (fair value) for all of the assets and liabilities of...