Hello tutor give me true calculation Prior to being united in a business combination, Botkins Inc. and VolkersonCorp. had the following stockholders' equity figures:Botkins VolkersonCommon stock ($1 par value) $220,000 $54,000Additional paid-in capitalRetained earnings$110,000 $25,000$360,000 $130,000Botkins issued 56,000 new shares of its common stock valued at $3.25 pershare for all of the outstanding stock of Volkerson.Assume that Botkins acquired Volkerson on January 1, 2012. At what amountdid Botkins record the investment in Volkerson?A) $56,000.B) $182,000.C) $209,000.D) $261,000.E) $312,000.

Step 1: Define Shareholders' EquityShareholders' Equity confers to the net worth of the Company or…

Answered: Prior to being united in a business…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

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.
Effective May 1, the shareholders of Baltimore Corporation approved a 2-for-1 split of the companys common stock and an increase in authorized common shares from 100,000 shares (par value 20 per share) to 200,000 shares (par value 10 per share). Baltimores shareholders equity items immediately before issuance of the stock split shares were as follows: What should be the balances in Baltimores Additional Paid-in Capital and Retained Earnings accounts immediately after the stock split is effected?
Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000 shares of $100 par value 8% cumulative preferred stock. It is also authorized to issue 750,000 shares of $6 par value common stock. It has issued 50,000 of the common shares and 1,000 of the cumulative preferred shares. The corporation has never declared a dividend and the preferred shares are one years in arrears. Aggregate Mining has the following transactions this year: Journalize these transactions. For the stock split, show the calculation for how many shares are outstanding after the split and the par value per share after the split
Ames Corporation repurchases 10,000 shares of its common stock for $12 per share. The shares were originally issued at an average price of $10 per share. Later it resells 6,000 of the shares for $15 per share and the remaining 4,000 shares for $17 per share. How much gain or loss should Ames report on its income statement as a result of these transactions? $38.000 gain $0 $20,000 loss $20,000 loss and $38,000 gain
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
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On January 1, 2020, Leilanie Company reported the following shareholders' equity: Share capital 1,500,000 Share premium 3,000,000 Retained earnings 5,000,000 The entity had 400,000 authorised shares of P5 par value, of which 300,000 shares were issued and outstanding. On March 1, the entity acquired 50,000 shares for P10 per share to be held as treasury. On July 1, the entity declared a property dividend of inventory payable on July 31. The inventory had a P1,200,000 carrying amount anda fair value of P1,500,000 on July 1 The net income for 2020 was P3,000,000. How much is the appropriated retained earnings? Select the correct response O500,000 O 400.000 O 250,000 O 450,000 < Previous Continue
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