Jim Company acquired a100% of the common stock of John Company on January 1, 2023. John Company maintains separate incorporation. Immediately following the acquisition, Jim and John had the following shareholders’ equity accounts:

	Jim	John
Common stock	300,000	200,000
Additional Paid-in Capital	200,000	250,000
Retained Earnings (1/1/2023)	300,000	150,000
Total SE	800,000	600,000

Determine the shareholder equity accounts of the consolidated company on the date of acquisition? Please, explain your answer.

Answer rating: 100% (QA)

To determine the shareholder equity accounts of the consolidated company on the date of acquisition ... View the full answer