Plz answer immediately I humble request I give up vote Peace Computer Corporation acquired 75 percent of Symbol Software Company's stock on January 2, 20X3, by Issuing bonds with apar value of $88,250 and a fair value of $105,750 In exchange for the shares. Summarized balance sheet data presented for thecompanies just before the acquisition follow:CashOther AssetsTotal DebitsCurrent LiabilitiesCommon StockRetained EarningsTotal CreditsAssetsPeace Computer CorporationBook Value Fair Value$ 217,000 $ 217,000413,000413,000$ 630,000$ 84,000297,000249,000$ 630,000Total AssetsLiabilities and Stockholders' Equity84,000Required:Prepare a consolidated balance sheet Immediately following the acquisition.PEACE COMPUTER CORPORATION AND SUBSIDIARYConsolidated Balance SheetJanuary 2, 20X3Total Liabilities and Stockholders' EquitySymbol Software CompanyBook Value Fair Value$ 67,000138,000$ 67,000138,000$ 205,000$ 64,00067,00074,000$ 205,00064,000

It presents the combined financial position of a parent or holding company and its subsidiaries. It…

Peace Computer Corporation acquired 75 percent of Symbol Software Company's stock on January 2, 20X3, by Issuing bonds with a par value of $88,250 and a fair value of $105,750 in exchange for the shares. Summarized balance sheet data presented for the companies just before the acquisition follow: Cash Other Assets Total Debits Current Liabilities Connon Stock Retained Earnings Total Credits Assets Peace Computer Book Value $ 217,000 413,000 $ 630,000 $ 84,000 297,000 249,000 $ 630,000 Total Assets Liabilities and Stockholders' Equity Corporation Fair Value $ 217,000 413,000 84,000 Required: Prepare a consolidated balance sheet Immediately following the acquisition. PEACE COMPUTER CORPORATION AND SUBSIDIARY Consolidated Balance Sheet January 2, 20X3 Total Liabilities and Stockholders' Equity Symbol Software Company Book Value Fair Value $ 67,000 138,000 $ 67,000 138,000 $ 205,000 $ 64,000 67,000 74,000 $ 205,000 64,000

Peace Computer Corporation acquired 75 percent of Symbol Software Company's stock on January 2, 20X3, by Issuing bonds with a par value of $88,250 and a fair value of $105,750 in exchange for the shares. Summarized balance sheet data presented for the companies just before the acquisition follow: Cash Other Assets Total Debits Current Liabilities Connon Stock Retained Earnings Total Credits Assets Peace Computer Book Value $ 217,000 413,000 $ 630,000 $ 84,000 297,000 249,000 $ 630,000 Total Assets Liabilities and Stockholders' Equity Corporation Fair Value $ 217,000 413,000 84,000 Required: Prepare a consolidated balance sheet Immediately following the acquisition. PEACE COMPUTER CORPORATION AND SUBSIDIARY Consolidated Balance Sheet January 2, 20X3 Total Liabilities and Stockholders' Equity Symbol Software Company Book Value Fair Value $ 67,000 138,000 $ 67,000 138,000 $ 205,000 $ 64,000 67,000 74,000 $ 205,000 64,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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