Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. on december 31, 20x3, saxe corporation was merg

1. On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business...

80.2K

Verified Solution

Question

Accounting

1. On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business combination, Poe issued 200,000 shares of its $10 par common stock, with a market price of $18 a share, for all of Saxe's common stock. The stockholders' equity section of each company's balance sheet immediately before the combination was: Poe $ 3,000,000 1,300,000 2,500,000 $ 6,800,000 $ 2,500,000 In the December 31, 20X3, combined balance sheet, additional paid-in capital should be reported at: Saxe $ 1,500,000 Common Stock Additional Paid-In Capital Retained Earnings 150,000 850,000
image
1. On December 31,203, Saxe Corporation was merged into Poe Corporation, In the business combinotion, Poe issued 200,000 shares of its $10 par common stock, with a market price of $18 a share, for all of Saxe's common stock. The stockholders' equity section of each company's balance sheet immediately before the combination was: In the December 31,203, combined balance sheet, additional paid-in capital should be reported at

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Innocence Project Written Assignment Provide answers to the following questions. Remember, to receive full credit you must...

Basic Math
1.2K views

An investor holding a certain portfolio consisting of two stocks invests 20% in Stock A and...

Basic Math
1.2K views

5 Q Find the circumference of the circle pictured above Round your answer to the...

Basic Math
1.2K views

Find the value of the combination.From a committee consisting of 8 men and 5 women,...

Calculus
1.2K views

There is a rational function with the following characteristics 2 and X 2 there are...

Calculus
1.2K views

Simplify the following expression using the sum and difference identities 5 Cos 7 COS Select...

Algebra
1.2K views

oblem 10 Which of the following sets are closed under addition i The set of...

Accounting
1.2K views

Bengal Co. proporciona el siguiente pronstico de ventas para los prximos tres meses: Julio Agosto...

Accounting
1.2K views

Demonstrate how the auditor assesses the risk of material misstatement. Contrast between Operation Audit, Compliance...

Accounting
1.2K views

Ivanhoe Inc. is considering modernizing its production facility by investing in new equipment and selling...

Accounting
1.2K views

$ $ $ WTU Corporation is considering two possible investments and needs your help in...

Finance
1.2K views

Multiple Choice. The graphical representation of CAPM (Capital Asset Pricing Model) is called: A. Capital...