Accounting Information Systems; Quickbooks 2015: A Complete Course (without Software); Access Card For Intuit Quickbooks 2015 (13th Edition)
13th Edition
ISBN: 9780134404080
Author: Marshall B. Romney, Paul J. Steinbart
Publisher: PEARSON
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Chapter 9, Problem 4DQ
To determine
Analyze privacy threats from the usage of biometric authentication, embedding RFID codes on the clothing and such similar technologies.
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On January 1, 2021, the Moody Company entered into a transaction for 100% of the outstanding common stock of Osorio Company. To acquire these shares, Moody issued $400 in long-term liabilities and also issued 40 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Moody paid $20 to lawyers, accountants, and brokers for assistance in bringing about this acquisition. Another $15 was paid in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows:
Moody
Osorio
Cash
$
180
$
40
Receivables
810
180
Inventories
1,080
280
Land
600
360
Buildings (net)
1,260
440
Equipment (net)
480
100
Accounts payable
(450
)
(80
)
Long-term liabilities
(1,290
)
(400
)
Common stock ($1 par)
(330
)
Common stock ($20 par)
(240
)
Additional paid-in capital
(1,080
)
(340
)
Retained…
Chapter 9 Solutions
Accounting Information Systems; Quickbooks 2015: A Complete Course (without Software); Access Card For Intuit Quickbooks 2015 (13th Edition)
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