Question: please help PART 2: Assume that S is not dissolved and that P acquired all of the outstanding common stock of S for $600,000 cash

please help

PART 2: Assume that S is not dissolved and that P acquired all of the outstanding common stock of S for $600,000 cash plus 1,000 shares of P's $50 par value common stock having a market value of $58 per share. Also assume that stock registration fees were $5,000 and merger-related legal ahd consulting fees (i.e., expenses) were $30,000, all paid in cash by P. REQUIRED: Calculate the change, if any, in P's Additional PaidIn Capital account using only the assumed information provided in this paragraph. No labels or account titles are required for this part (of the exam) only. (If no change occurred, indicate NO CHANGE OCCURRED.) NOTE: Pre-Acquisition data common to all parts is presented immediately below (unless stated otherwise). *This amount represents the totalfat fair value of S (a.k.a., FMV-S). THUS use this amount when calculating Goodwill or Bargain Purchase Gain

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!

PART 5 : Assume that S is not dissolved and that P acquired all of the outstanding common stock of S for $ 5 5 0 , 0 0 0 cash plus 5 0 0 shares of P ' s $ 5 0 par value common stock having a market...

please help! PART 3: Assume that S is not dissolved and assume that P paid $550,000 cash for all of S's outstanding common stock. Also, assume that P paid $30,000 in merger-related consulting and...

Please help with the attached document ASAP Buttercup Corporation issued 280 shares of $13 par value common stock for $5,460. Prepare Buttercup' journal entry. (List multiple debit/credit entries...

'To be solved by AjKaushal' Please help Part B During 2013, the Nicklaus Corporation participated in three treasury stock transactions: a. On June 30, 2013, the corporation reacquires 200,000 shares...

I've got 90% of A1 completed, but need help with A2 thru C, please. Thank you! 4- Homework.jpg + Add to Edit & Create Share DeZurik Corp. had the following stockholders' equity section in its June...

On January 1, 2018, Marshall Company acquired 100 percent of the outstanding common stock of Tucker Company. To acquire these shares, Marshall issued $306,000 in long-term liabilities and 20,000...

On January 1, 2018, Marshall Company acquired 100 percent of the outstanding common stock of Tucker Company. To acquire these shares, Marshall issued $330,000 in long-term liabilities and 20,000...

Check my work Peanut Company acquired 100 percent of Snoopy Company's outstanding common stock for $318,000 on January 1 20x8, when the book value of Snoopy's net assets was equal to $318,000. Peanut...

Please With Comprehensive problem 4 part 2 using the above information. a. Issued 15,000 shares of $20 par common stock at $30, receiving cash. b. Issued 4,000 shares of $80 par preferred 5% stock at...

Stuck on part C please help. Part C On October 1, 2018, Nicklaus Corporation receives permission to replace its $1 par value common stock (5,000,000 shares authorized, 3,000,000 shares issued, and...

Let a, b, s, and t be integers. If amod st= b mod st, show that a mods = bmods and amodt = bmodt. What condition on s and t is needed to make the converse true?

2. For the matrix B given below: [1120 011-1 -1 1121 2 213-1 a. Find the basis for Row B, Col B, and Nul B. PMC [4.2.5 points] b. Find the dimension of Row B, Col B, and Nul B. [1,1, 1 points) c....

You acquired $ 5 percent of the outstanding voting shares of Glieason, Isc, on December 3 1 , 2 0 2 3 , for $ 6 1 8 , 8 0 0 in cash. The remuining shaes attributed to the nce coetrollitg irterest had...

Employee ownership plans (employee share options or stock ownership plans) are likely to be more prevalent in countries with low power distance (reflecting an egalitarian attitude towards ownership),...

Power distance: the extent to which reward is based on hierarchical position rather than task performance, and the level of pay differentials between hierarchical levels;

3 How do measures of success of motivational systems vary among different countries cultural contexts?