Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on july 1. trudata company issues 12,400 shares of

On July 1. TruData Company issues 12,400 shares of its common stock with a $5...

90.2K

Verified Solution

Question

Accounting

image
image
image
On July 1. TruData Company issues 12,400 shares of its common stock with a $5 par value and a $35 fair value in exchange for all of Webstat Company's outstanding voting shares. Webstat's precombination book and fair values are shown below along with book values for TruData's accounts. Revenues (1/1 to 7/1) Expenses (1/1 to 71) Retained earnings, 1/1 Cash and receivable Inventory Patented technology (net) Land Buildings and equipment (net) abilities Common atook Additional paid in capital Trubata Webstat Webartat Book Values Book Values Face Values $ (276,200) 6 (162, 000) 178,000 72,000 (130,000) (248,000) 144,000 64,000 $ 64,000 170,000 158,000 172,000 224,000 180,000 224,000 410,000 208.000 226,000 110,000 14,000 84,000 (534.000) (368,000) (356, 000) (284,000) 66.000) (11.300) (28.000) 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 patented technology (net)? Additional paid-in capital (11.300) 128,000) On its acquisition date consolidated balance sheet, what amount should TruData report as retained earnings as of July 1

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