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USE THE FOLLOWING INFORMATION FOR 1-3

On January 1, 2020 Tupaz Co. issues 10,000 shares of its common stock with a $5 par value and a $100 Fair Value in exchange for 100% of the outstanding voting stock of Prevost Ltd. The following are the pre-acquisition book and fair values of Prevost and the Book values of Tupazs accounts.

	Tupaz Book Values	Prevost Book Values	Prevost Fair Values
Current assets	300,000	75,000	75,000
Land	250,000	25,000	40,000
Building, net	400,000	125,000	200,000
Patented Technology	100,000	0	20,000
Liabilities	(350,000)	(40,000)	(40,000)
Common Stock	(25,000)	(10,000)
APIC	(175,000)	(15,000)
Retained Earnings	(500,000	(160,000)

In addition to the assets listed above, Tupaz determines that Prevosts customer list has a $220,000 fair value at the date of acquisition

Tupaz estimates that the building has a remaining estimated life of 5 years, the patented technology has a life of 4 years and the customer list has a life of 11 years.

1. Calculate the Goodwill at the date of acquisition (show all work)

2. Assuming the following book balances on December 31, 2024 compute the consolidated totals for each category (Show all work):

	Tupaz	Prevost	Consolidated totals
Land	300,000	40,000	?
Building	320,000	100,000	?
Patented tech	60,000	0	?
Customer List	0	0	?

3. If tupaz had issued no additional shares since the acquisition on Jan, 1 2020 what are the consolidated totals for that? (Show all work)

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