Question: On June 3 0 , 2 0 2 0 , Wisconsin, Inc., issued $ 1 4 3 , 2 5 0 in debt and 2

On June 30,2020, Wisconsin, Inc., issued $143,250 in debt and 24,100 new shares of its $10 par value stock to Badger Company
owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to the
combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30,2020, were as follows (credit
balances in parentheses):
Wisconsin also paid $35,500 to a broker for arranging the transaction. In addition, Wisconsin paid $46,000 in stock issuance costs.
Badger's equipment was actually worth $771,250, but its patented technology was valued at only $292,800.
What are the consolidated balances for the following accounts? (Input all amounts as positive values)
 On June 30,2020, Wisconsin, Inc., issued $143,250 in debt and 24,100

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!