Question

On its acquisition-date consolidated balance sheet, what amount should TruData report as common stock?
a. $70,000.
b. $300,000.
c. $350,000.
d. $370,000.

On July 1, TruData Company issues 10,000 shares of its common stock with a $5 par value and a $40 fair value in exchange for all of Webstat Company’s outstanding voting shares. Webstat’s precombination book and fair values are shown below along with book values for TruData’saccounts.


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  • CreatedJanuary 08, 2015
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