Griffin Corporation and Davis Company Separate Balance sheets (prior to business combination) December 31, 2019 Griffin...

 

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Griffin Corporation and Davis Company Separate Balance sheets (prior to business combination) December 31, 2019 Griffin Davis Corporation Company Cash $3,000,000 1,000,000 4.000.000 8,000,000 $500,000 300,000 900.000* 1,700,000 Inventories Plant assets Total assets Current liabilities Common Stock Add pd in capital Retained earnings Total liabilities and S/E $ 900,000 2,000,000 4,000,000 1.100.000 8,000,000 200,000 400,000 600,000 500.000 1,700,000 *On December 31, 2019, the Current fair value of Davis plant asset was $1,200,000. A. On December 31, 2019, Griffin Corporation acquired all of the outstanding common stock of Davis Company for $1,950,000 cash. Prepare the consolidated balance sheet for Griffin Corporation and subsidiary. Griffin Corporation and Davis Company Separate Balance sheets (prior to business combination) December 31, 2019 Griffin Davis Corporation Company Cash $3,000,000 1,000,000 4.000.000 8,000,000 $500,000 300,000 900.000* 1,700,000 Inventories Plant assets Total assets Current liabilities Common Stock Add pd in capital Retained earnings Total liabilities and S/E $ 900,000 2,000,000 4,000,000 1.100.000 8,000,000 200,000 400,000 600,000 500.000 1,700,000 *On December 31, 2019, the Current fair value of Davis plant asset was $1,200,000. A. On December 31, 2019, Griffin Corporation acquired all of the outstanding common stock of Davis Company for $1,950,000 cash. Prepare the consolidated balance sheet for Griffin Corporation and subsidiary.

Answer rating: 100% (QA)

Answer Consolidated balance sheet Amount in 00 Cas... View the full answer