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On December 31, 2019, Manama Corporation issued 90,000 shares of its no-par, no-stated-value common...
On December 31, 2019, Manama Corporation issued 90,000 shares of its no-par, no-stated-value common stock (current...
On December 31, 2019, Manama Corporation issued 90,000 shares of its no-par, no-stated-value common stock (current fair value $14 a share) for 36,000 shares of the outstanding $10 par common stock of Bahrain Company. The $100,000 out-of-pocket costs of the business combination paid by Manama on December 31, 2019, were allocable as follows: 45% to finders, legal, and accounting fees directly related to the business combination: 55% to the SEC registration statement for Manama’s common stock issued in the businesses...
On December 31, 2019, Manama Corporation issued 90,000 shares of its no-par, no-stated-value common stock (current...
On December 31, 2019, Manama Corporation issued 90,000 shares of its no-par, no-stated-value common stock (current fair value $14 a share) for 36,000 shares of the outstanding $10 par common stock of Bahrain Company. The $100,000 out-of-pocket costs of the business combination paid by Manama on December 31, 2019, were allocable as follows: 45% to finders, legal, and accounting fees directly related to the business combination: 55% to the SEC registration statement for Manama’s common stock issued in the businesses...
Effective December 31, 2020, Zinc proposes to issue additional shares of its common stock in exchange...
Effective December 31, 2020, Zinc proposes to issue additional shares of its common stock in exchange for all assets and liabilities and of Teton Corporation and Iron Corporation after which the stock of Zinc will be distributed to the shareholders of Teton and Iron Corporation to complete the liquidation. Balance sheets of each of the corporations immediately prior to the merger on December 31, 2020 are shown below. The exchange ratio of the common stock was negotiated to be 1:1...
On December 31, year 1, Saxe Corporation was acquired by Poe Coporation. In the business combination,...
On December 31, year 1, Saxe Corporation was acquired by Poe Coporation. In the business combination, Poe issued 200,000 shares of its $10 par common stock, with a market price of $10 a share, for all of Saxe's common stock. The Stockholders' equity section of each company's balance sheet immediately befoe the combination was POE SAXE Common stock: $3,000,000 $1,500,000 Additional paid in capital: 1,300,000 150,000 Retained Earnings: 2,500,000 850,000 Total: 6,800,000 2,500,000 In...
On December 31, 2019, Purple Company purchased 80% of the common stock of Sage Company for...
On December 31, 2019, Purple Company purchased 80% of the common stock of Sage Company for $1,300,000. On this date, Sage had total owners' equity of $650,000 (common stock $100,000; other paid-in capital, $250,000; and retained earnings, $300,000). Any excess of cost over book value is due to the under or overvaluation of certain assets and liabilities. Assets and liabilities with differences in book and fair values are provided in the following table: Book Fair Value Value...
P11-3A On December 31, 2016, Jons Company had 1,300,000 shares of $5 par common Prepare a stockhol stock issued and outstanding. At December 31,2016, stockholders' equity had the amounts secr...
P11-3A On December 31, 2016, Jons Company had 1,300,000 shares of $5 par common Prepare a stockhol stock issued and outstanding. At December 31,2016, stockholders' equity had the amounts secrion listed here. (10 2,3,4AP Common Stock Additional Paid-in Capital Retained Earnings $6,500,000 1,800,000 1,200,000 Transactions during 2017 and other information related to stockholders' equity accounts were as follows. 1. On January 10, 2017, issued at S107 per share l 20,000 shares of si 00 par value,% cumulative preferred stock. 2....
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $216,000....
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $216,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition orporation Corporation Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock Total Assets Liabilities and Stockholders' Equity Accounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $ 68,000 86,eee 120,000 223,000 216,000 $713,000 $ 19,00...
Price Company issued 8,220 shares of its $20 par value common stock for the net assets...
Price Company issued 8,220 shares of its $20 par value common
stock for the net assets of Sims Company in a business combination
under which Sims Company will be merged into Price Company.
Although the questions are correct, my question is how do I solve
part "B"?
Exercise 2-7 Price Company issued 8,220 shares of its $20 par value common stock for the net assets of Sims Company in a business combination under which Sims Company will be merged into...
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20x2, for $229,000....
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20x2, for $229,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Blank Corporation $ 61,000 83,000 109,000 222,000 229,000 $704,000 Faith Corporation $ 33,000 57,000 65,000 168,000 Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock Total Assets Liabilities and Stockholders' Equity Accounts Payable Notes Payable Common Stock Retained Earnings...
3. The ABC Corporation issued 5,000 shares of common stock, no par, no stated value for...
3. The ABC Corporation issued 5,000 shares of common stock, no par, no stated value for $8 per share on February 5, 2019. Prepare the journal entry for this sale of common stock. Dr. Cash $40,0000 Cr. Common Stock $5,000 Cr. Pic excess par c.S. $35,000
Effective December 31, 2020, Zinc proposes to issue additional shares of its common stock in exchange for all assets and liabilities and of Teton Corporation and Iron Corporation after which the stock of Zinc will be distributed to the shareholders of Teton and Iron Corporation to complete the liquidation. Balance sheets of each of the corporations immediately prior to the merger on December 31, 2020 are shown below. The exchange ratio of the common stock was negotiated to be 1:1...
P11-3A On December 31, 2016, Jons Company had 1,300,000 shares of $5 par common Prepare a stockhol stock issued and outstanding. At December 31,2016, stockholders' equity had the amounts secrion listed here. (10 2,3,4AP Common Stock Additional Paid-in Capital Retained Earnings $6,500,000 1,800,000 1,200,000 Transactions during 2017 and other information related to stockholders' equity accounts were as follows. 1. On January 10, 2017, issued at S107 per share l 20,000 shares of si 00 par value,% cumulative preferred stock. 2....
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $216,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition orporation Corporation Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock Total Assets Liabilities and Stockholders' Equity Accounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $ 68,000 86,eee 120,000 223,000 216,000 $713,000 $ 19,00...
Price Company issued 8,220 shares of its $20 par value common
stock for the net assets of Sims Company in a business combination
under which Sims Company will be merged into Price Company.
Although the questions are correct, my question is how do I solve
part "B"?
Exercise 2-7 Price Company issued 8,220 shares of its $20 par value common stock for the net assets of Sims Company in a business combination under which Sims Company will be merged into...
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20x2, for $229,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Blank Corporation $ 61,000 83,000 109,000 222,000 229,000 $704,000 Faith Corporation $ 33,000 57,000 65,000 168,000 Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock Total Assets Liabilities and Stockholders' Equity Accounts Payable Notes Payable Common Stock Retained Earnings...
3. The ABC Corporation issued 5,000 shares of common stock, no par, no stated value for $8 per share on February 5, 2019. Prepare the journal entry for this sale of common stock. Dr. Cash $40,0000 Cr. Common Stock $5,000 Cr. Pic excess par c.S. $35,000
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