On July 1, TruData Company issues 13,200 shares of its common stock with a $5 par value
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TruData | Webstat | Webstat | |||||||||
Book Values | Book Values | Fair Values | |||||||||
Revenues (1/1 to 7/1) | $ | (409,200 | ) | $ | (144,000 | ) | |||||
Expenses (1/1 to 7/1) | 196,000 | 74,000 | |||||||||
Retained earnings, 1/1 | (110,000 | ) | (168,000 | ) | |||||||
Cash and receivables | 198,000 | 68,000 | $ | 68,000 | |||||||
Inventory | 184,000 | 164,000 | 184,000 | ||||||||
Patented technology (net) | 260,000 | 182,000 | 214,000 | ||||||||
Land | 382,000 | 216,000 | 244,000 | ||||||||
Buildings and equipment (net) | 112,000 | 74,000 | 74,000 | ||||||||
Liabilities | (516,000 | ) | (362,000 | ) | (360,000 | ) | |||||
Common stock | (288,000 | ) | (72,000 | ) | |||||||
Additional paid-in capital | (8,800 | ) | (32,000 | ) | |||||||
On its acquisition-date consolidated balance sheet, what amount should TruData report as patented technology (net)?
On its acquisition-date consolidated balance sheet, what amount should TruData report as goodwill?
On its acquisition-date consolidated balance sheet, what amount should TruData report as common stock?
On its acquisition-date consolidated balance sheet, what amount should TruData report as retained earnings as of July 1?
Related Book For
Fundamentals of Advanced Accounting
ISBN: 978-1259722639
7th edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
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