On July 1, TruData Company issues 10,000 shares of its common stock with a $5 par...
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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's accounts. TruData Webstat Webstat Book Values $ (250,000) 170,000 (130,000) 140,000 190,000 230,000 400, 0০0 100,000 (540,000) (300,000) (10,000) Book Values Fair Values Revenues (1/1 to 7/1) Expenses (1/1 to 7/1) Retained earnings, 1/1 Cesh and receivables $ (130,000) ৪০, 0০0 (150,000) 60,000 60,000 Inventory Patented technology (net) 145,000 180,000 200,000 75,000 (360,000) (70,000) (30,000) 175,000 200,000 225,000 75,000 ( 350, 000) Land Buildings and equipment (net) Liabilities Common stock Additional paid-in capital On its acquisition-date consolidated balance sheet, what amount should TruData report as goodwill? Multiple Choice $0. $15,000. $35,000. $100,000. On its acquisition-date consolidated balance sheet, what amount should TruData report as patented technology (net)? Multiple Choice $200,000. $230,000. $410,000. $430,000. On its acquisition-date consolidated balance sheet, what amount should TruData report as common stock? Multiple Choice O $70,00o. $300,000. $350,000. $370,000. On its acquisition-date consolidated balance sheet, what amount should TruData report as retained earnings as of July 1? Multiple Choice $130,000. O $210,000. O $260,000. $510,000. 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's accounts. TruData Webstat Webstat Book Values $ (250,000) 170,000 (130,000) 140,000 190,000 230,000 400, 0০0 100,000 (540,000) (300,000) (10,000) Book Values Fair Values Revenues (1/1 to 7/1) Expenses (1/1 to 7/1) Retained earnings, 1/1 Cesh and receivables $ (130,000) ৪০, 0০0 (150,000) 60,000 60,000 Inventory Patented technology (net) 145,000 180,000 200,000 75,000 (360,000) (70,000) (30,000) 175,000 200,000 225,000 75,000 ( 350, 000) Land Buildings and equipment (net) Liabilities Common stock Additional paid-in capital On its acquisition-date consolidated balance sheet, what amount should TruData report as goodwill? Multiple Choice $0. $15,000. $35,000. $100,000. On its acquisition-date consolidated balance sheet, what amount should TruData report as patented technology (net)? Multiple Choice $200,000. $230,000. $410,000. $430,000. On its acquisition-date consolidated balance sheet, what amount should TruData report as common stock? Multiple Choice O $70,00o. $300,000. $350,000. $370,000. On its acquisition-date consolidated balance sheet, what amount should TruData report as retained earnings as of July 1? Multiple Choice $130,000. O $210,000. O $260,000. $510,000.
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Related Book For
Advanced Financial Accounting
ISBN: 978-0078025877
11th edition
Authors: Theodore E. Christensen, David M. Cottrell, Cassy JH Budd
Posted Date:
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