Please give me correct answer this financial accounting question not use ai Prior to being united in a business combination, Axton Inc. and Miller Corp. hadthe following stockholders' equity figures:ItemAxtonMillerCommon stock ($1 par value) $300,000 $80,000Additional paid-in capitalRetained earnings$150,000 $40,000$500,000 $200,000Axton issued 70,000 new shares of its common stock valued at $4.50 per sharefor all of the outstanding stock of Miller.Assume that Axton acquired Miller on January 1, 2020. At what amount didAxton record the investment in Miller?

Step 1: Definition of Investment Amount in Business CombinationUnder the acquisition method, the…

Answered: Prior to being united in a business…

Principles of Accounting Volume 1

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Chapter14: Corporation Accounting

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Problem 7EB: Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the...

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Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.
Juniper Company is authorized to issue 5,000,000 shares of $2 par value common stock. In conjunction with its incorporation process and the IPO, the company has the following transaction: Mar. 1, issued 4,000 shares of stock in exchange for equipment worth $250,000. Journalize the transaction.
Prior to being united in a business combination, Taunton Inc. and Eubanks Corp. had the following stockholders' equity figures: Common stock ($1 par value) Additional paid-in capital Retained earnings Taunton Eubanks $240,000 $64,000 120,000 30,000 370,000 14,000 Taunton issued 62,000 new shares of its common stock valued at $2.75 per share for all of the outstanding stock of Eubanks Assume that Taunton acquired Eubanks on January 1, 2020 and that Eubanks maintains a separate corporate existence. At what amount did Taunton record the investment in Eubanks? Multiple Choice Navt $62.000 $108.000 $170,500
Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following stockholders’ equity figures: Atkins Waterson Common stock ($1 par value) $ 210,000 $ 56,000 Additional paid-in capital 105,000 25,500 Retained earnings 389,000 140,000 Atkins issues 67,750 new shares of its common stock valued at $3 per share for all of the outstanding stock of Waterson. Immediately afterward, what are consolidated Additional Paid-In Capital and Retained Earnings, respectively? Multiple Choice $232,500 and $529,000. $124,500 and $389,000. $130,500 and $529,000. $240,500 and $389,000.
Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following stockholders’ equity figures:Atkins issues 51,000 new shares of its common stock valued at $3 per share for all of the outstanding stock of Waterson. Immediately afterward, what are consolidated Additional Paid-In Capital and Retained Earnings, respectively?a. $104,000 and $300,000b. $110,000 and $410,000c. $192,000 and $300,000d. $212,000 and $410,000
Prior to being united in a business combination, Big Inc. and Little Inc. had the following information: Big Little Common Stock ($1 par value) $ 180,000 $ 45,000 Additional Paid-in capital 90,000 20,000 Retained earnings 300,000 110,000 Big issues 51,000 new shares of its common stock valued at $3 per share for all the outstanding stock of Little. Immediately afterward, what are consolidated Additional Paid-in Capital and Retained Earnings?
On January 1, 20x1, Pinup Corp. acquired 34,560 outstanding ordinary shares of Slug Corp. for a cash consideration of P5,158,400. The shareholders’ equity of Slug Corp. on the date of business combination is presented below: Ordinary shares P100 par value 5,760,000 Share premium 1,600,000 Retained Earnings 960,000 Pinup Corp agreed to issue additional 1,000 shares to former owners of Slug Corp if the market price per share of Pinup Corp shares increase to P120 per share. On the acquisition date, the contingent consideration was estimated at P80,000. What is the amount of non-controlling interest if it is measured at its proportionate share in the identifiable net assets of Slug Corp.?
Based on the picture, how much is the net increase in the shareholder's equity of David Guetta Company as a result of business combination?
7. On December 31, 2022, Saxe Corp. was merged into Poe Corp. In the business combination, Poe issued 200,000 shares of its P10 par ordinary share, with a market price of P18 per share, for all of Saxe's common stock. The shareholders' equity section of each company's balance sheet immediately before the combination was shown below: Рое Saxe Ordinary share 1,500,000 3,000,000 Ordinary share premium 150,000 Retained earnings 1,300,000 2,500,000 850,000 6,800,000 2,500,000 Poe Corp. incurred the following costs related to the acquisition: Finder's fee - P20,000 and share issuance costs - P25,000. The working paper elimination entries prepared immediately after the combination will include:
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10. On December 31, 2022, Saxe Corp. was merged into Poe Corp. In the business combination, Poe issued 200,000 shares of its P10 par ordinary share, with a market price of P18 per share, for all of Saxe's common stock. The shareholders' equity section of each company's balance sheet immediately before the combination was shown below: Рое Saxe Ordinary share 1,500,000 3,000,000 Ordinary share premium 150,000 Retained earnings 1,300,000 2,500,000 850,000 6,800,000 2,500,000 Poe Corp. incurred the following costs related to the acquisition: Finder's fee - P20,000 and share issuance costs - P25,000. In the December 31, 2022 consolidated balance sheet, total equity should be reported at:
The following are the balances of LITTLE Company and BOY Company as of January 1, 20x1. Dianne Company BV FV Assets 4,000,000 4,200,000 Liabilities 1,000,000 900,000 Corpuz Company Book Value Fair Value Assets 3,000,000 2,900,000 Liabilities 500,000 600,000 The companies combined their resources and formed CHAN Co. The new company issues 6,000 shares of 500 par value common stocks with fair value of P600 and pays additional 500,000. The company also incurs direct costs of 50,000 and indirect cost of 20,000. What is the total assets of Dark Co. immediately after the business combination if contingent expenses of P100,000 are estimated to be incurred after 1 yr?

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