Wisconsin also paid $32,600 to a broker for arranging the transaction. In addition, Wisconsin paid $48,200 in stock issuance costs.Badger's equipment was actually worth $738,000, but its patented technology was valued at only $341,800.What are the consolidated balances for the following accounts? (Input all amounts as positive values)AccountsAmountsa. Net incomeb. Retained earnings, 1/1/20839,000c. Patented technology (net)d. Goodwille.Liabilitiesf.Common stockg. Additional paid-in capital On June 30, 2020, Wisconsin, Inc., issued $153,400 in debt and 22,200 new shares of its $10 par value stock to Badger Companyowners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to thecombination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2020, were as follows (creditbalances in parentheses):Wisconsin$ (1,077,000)759,000$ (318,000)$(839,000)(318,000)110,750$(1,046, 250)Badger$ (397,000)200,000RevenuesExpenses$ (197,000)$ (213,000)(197,000)Net incomeRetained earnings, 1/1Net incomeDividends declaredRetained earnings, 6/30$ (410,000)$ 197,250423,000915,000737,000$ 2,272,250$ (596,000)(360,000)(270,000)(1,046, 250)$(2,272,250)CashReceivables and inventoryPatented technology (net)Equipment (net)166,000171,000364,000609,000$ 1,310,000$ (430,000)(200,000)(270,000)(410, 000)$(1,310,000)Total assetsLiabilitiesCommon stockAdditional paid-in capitalRetained earningsTotal liabilities and equities

Introduction:- A corporation's shares are units of equity ownership. Shares serve as a financial…

Wisconsin also paid $32,600 to a broker for arranging the transaction. In addition, Wisconsin paid $48,200 in stock issuance costs. Badger's equipment was actually worth $738,000, but its patented technology was valued at only $341,800. What are the consolidated balances for the following accounts? (Input all amounts as positive values) Accounts Amounts a. Net income b. Retained earnings, 1/1/20 c. Patented technology (net) 2$ 839,000 d. Goodwill e. Liabilities f. Common stock g. Additional paid-in capital

Wisconsin also paid $32,600 to a broker for arranging the transaction. In addition, Wisconsin paid $48,200 in stock issuance costs. Badger's equipment was actually worth $738,000, but its patented technology was valued at only $341,800. What are the consolidated balances for the following accounts? (Input all amounts as positive values) Accounts Amounts a. Net income b. Retained earnings, 1/1/20 c. Patented technology (net) 2$ 839,000 d. Goodwill e. Liabilities f. Common stock g. Additional paid-in capital

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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