January 1, 2019, We Establish Arab Capital Insurance Inc. With Capital $955,955 Cash And We Purchase Apple
Question:
January 1, 2019, We Establish Arab Capital Insurance Inc. With Capital $955,955 Cash And We Purchase Apple And David Inc. They Use Acquisition Methods. We Paid $655,000 Cash For Apple Inc. Also, $18,988 investment Expenses. We Paid $185,000 Cash For David Inc. Also, $7250 Investment Expenses. As A Result Of This Transaction Both Apple And David Inc. Merge Into Arab Capital Insurance Inc
Apple inc. David inc.
Assets Book V Fair V book V Fair V
Cash $210,000 $210,000 $15,000 $15,000
Account Receivable $180,000 $160,000 $30,000 $25,000
equipment $65,000 $75,000 $80,000 $105,000
Inventory $90,000 $95,000 $70,000 $60,000
Logistics(Cars & truck) $80,000 $70,000 $25,000 $20,000
Total Assets
Account Payable $145,000 $140,000 $25,000 $25,000
Capital $360,000 $150,000
Add. Paid. Capital $80,000 $40,000
Retain Earning $40,000 $5,000
Please Answer The Following Questions
1. Total Assets After Transaction Took Place.
(2 نقطة)
2Total Cash After Transaction Took Place
3Total Goodwill After Transaction Took Place
4Total Retain Earning After Transaction Took Place.
(2 نقطة)
5Total Retain Earning After Transaction Took Place.
(2 نقطة)
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz