Man merged with San Corporation in a business combination in which San issued 30,000 shares of its $5 par (current fair value $20 a share) common stock to stockholders of Man in exchange for all their outstanding common stock. The journal entry for the merger includes: a. Credit to common stock $ 450,000. b. Credit to common stock $ 300,000. c. Credit to common stock $ 150,000. d. Credit to common stock $ 600,000.

Q: Through the payment of $10,468,000 in cash, Drexel Company acquires voting control over Young…

A:

Q: Pauline Company issued 240,000 shares of P10 par common stock with a fair value of P5,100,000 for…

A: ACIP is the excess of par value over the actual cost of stock to the shareholders.

Q: Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the…

A: Given information is: Prior to being united in a business combination, Atkins, Inc., and Waterson…

Q: Man merged with San Corporation in a business combination in which San issued 30,000 shares of its…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: anna Ltd. enters into a business combination with Noah Inc. in which Manna purchases all of the…

A: Step 1 Business Combination is an acquisition of one entity by another one by Paying Purchase…

Q: Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In…

A: Goodwill = consideration  paid - fair value of net assets

Q: n the December 31, year 1 consolidated balance sheet, common stock should be reported at

A: When preparing consolidated financial statements, all the items of balance sheet of both companies…

Q: AAA Co. merged into BBB Corporation on July 1, 2013. In exchange tor the net assets at fair market…

A:

Q: Paul Corporation acquired 80 percent of Saul Company on January 1, 2019, by issuing 118,000 shares…

A: Acqusition Cost It may be incurred several cost which are related with the Acqusition cost while…

Q: On December 31, year 1, Saxe Corporation was acquired by Poe Corporation. In the business…

A: solution concept additional paid in capital                 Additional paid in capital is the amount…

Q: Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the…

A: The additional paid-in capital is the value of share capital above its par value. The additional…

Q: Man merged with San Corporation in a business combination in which San issued 30,000 shares of its…

A: Common stock is the equity shares of the company held in the hands of the shareholders of the…

Q: Wendelle paid finder's fees of P40,000, acco legal fees (advisory) of P15,000, salaries of V to the…

A: When a cost is expensed, it is recorded on income statement and deducted from revenue to calculate…

Q: Sandusky Corporation purchased 3,000 shares of its own $1 par value common stock for $143,000. As a…

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Q: Choose the correct. On January 1, Balanger Company buys 10 percent of the outstanding shares of its…

A:

Q: On January 1, 20X3, Parent Corporation reported total assets of $470,000, liabilities $270,000, and…

A: As per IFRS 10 which specifies how consolidated financial statements to be prepared and presented.

Q: On January 1, 2005, The Sun Corporation issued 10,000 shares of its own $10 par value common stock…

A: When a company acquires another company’s shares and makes it its subsidiary the main company…

Q: SafeData Corporation has the following account balances and respective fair values on June…

A: As you posted many sub parts in questions we are answering the First 3 sub parts only. Kindly repost…

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Q: The Apex Corporation sells one million shares of its $0.02 par value Common Stock for $15 per share.…

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Q: Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In…

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Q: On January 1, NewTune Company exchanges 17,049 shares of its common stock for all of the outstanding…

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A: Retained earnings immediately after the combination is P4,035,000. Explanation:

Q: MG Corporation exchange 150,000 shares of newly issued P1 par value common stock with a fair market…

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Q: Choose the correct. Arcola, Inc., acquires all 40,000 shares of Tuscola Company for $725,000. A year…

A: Answer:   Option c.

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Q: Hepner Corporation has the following stockholders’ equity accounts:The preferred stock is…

A: Goodwill: Goodwill is the good reputation developed by a company over years. This is recorded as an…

Q: Prior to being united in a business combination, Taunton Inc. and Eubanks Corp. had the following…

A: Shares: Shares are the units of the total stock of a company that show the fractional ownership of…

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A: The process of recording business transactions in the books of accounts for the first time is…

Q: On January 1, NewTune Company exchanges 15,000 shares of its common stock for all of the outstanding…

A: The following computations are done to account for the consolidation of New Tune Co. and On-the Go…

Q: Parent Company, an SME issued 60,000 shares of P100 par value ordinary shares for all the…

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Q: Pete Corporation and Sol Company agreed to combine their businesses, with Pete Corporation as the…

A:

Q: Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the…

A: Note: Company A and Compnay W had the following stakeholder's Equity figures prior to merging:…

Q: XENON Company merged into URANIUM Company on July 1, 2021. In exchange for the net assets at fair…

A: In a business combination, the acquisition-related cost is recognized in the profit and loss account…

Q: Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the…

A: The business combination is a method by which two or more companies are amalgamate and form a new…

Q: Susan Casulla, Margie Landicho and Christine Supapo decided to incorporate their business and…

A: Amalgamation represents the collaboration of two or more entities to operate together either through…

Q: Parent Company, an SME issued 60,000 shares of P100 par value ordinary shares for all the…

A: Solution Concept In the context of business combination Direct cost Included in cost of…

Q: On 1/1/20x1, Petwoud Company exchanged 25,000 shares of its $1 par value common stock and $150,000…

A: Acquisition refers to acquiring shares of one company by another company in a large percentage. This…

Q: Parent Company, an SME issued 60,000 shares of P100 par value ordinary shares for all the…

A: Solution Concept In the context of business combination Nature of cost Treatment Direct…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.