Advanced Accounting
Advanced Accounting
14th Edition
ISBN: 9781260247824
Author: Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik
Publisher: RENT MCG
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Chapter 2, Problem 15P
To determine

Find the amount of consolidated Additional Paid-In Capital and Retained Earnings.

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Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following stockholders’ equity figures:Atkins issues 51,000 new shares of its common stock valued at $3 per share for all of the outstanding stock of Waterson. Immediately afterward, what are consolidated Additional Paid-In Capital and Retained Earnings, respectively?a. $104,000 and $300,000b. $110,000 and $410,000c. $192,000 and $300,000d. $212,000 and $410,000
Prior to being united in a business combination, Taunton Inc. and Eubanks Corp. had the following stockholders' equity figures: Common stock ($1 par value) Additional paid-in capital Retained earnings Taunton Eubanks $240,000 $64,000 120,000 30,000 370,000 14,000 Taunton issued 62,000 new shares of its common stock valued at $2.75 per share for all of the outstanding stock of Eubanks Assume that Taunton acquired Eubanks on January 1, 2020 and that Eubanks maintains a separate corporate existence. At what amount did Taunton record the investment in Eubanks? Multiple Choice Navt $62.000 $108.000 $170,500
Prior to being united in a business combination, Big Inc. and Little Inc. had the following information:                                                                                         Big                 Little                         Common Stock ($1 par value)           $ 180,000        $  45,000                         Additional Paid-in capital                       90,000            20,000                         Retained earnings                                  300,000         110,000               Big issues 51,000 new shares of its common stock valued at $3 per share for all the outstanding stock of Little.  Immediately afterward, what are consolidated Additional Paid-in Capital and Retained Earnings?
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