McCoy has the following account balances as of December 31,…
Questions
McCоy hаs the fоllоwing аccount bаlances as of December 31, 2020 before an acquisition transaction takes place. Inventory $125,000 Land 450,000 Buildings (net) 575,000 Common stock ($10 par) 600,000 Additional paid-in capital 300,000 Retained earnings 250,000 The fair value of McCoy’s Land and Buildings are $650,000 and $600,000, respectively. On December 31, 2020, Ferguson Company issues 30,000 shares of its $10 par value ($30 fair value) common stock in exchange for all of the shares of McCoy’s common stock. Ferguson paid $12,000 for costs to issue the new shares of stock. Before the acquisition, Ferguson has $800,000 in its common stock account and $350,000 in its additional paid-in capital account.What will the consolidated common stock account be as a result of this acquisition? A) $300,000. B) $800,000. C) $1,100,000. D) $1,400,000. E) $1,700,000.
McCоy hаs the fоllоwing аccount bаlances as of December 31, 2020 before an acquisition transaction takes place. Inventory $125,000 Land 450,000 Buildings (net) 575,000 Common stock ($10 par) 600,000 Additional paid-in capital 300,000 Retained earnings 250,000 The fair value of McCoy’s Land and Buildings are $650,000 and $600,000, respectively. On December 31, 2020, Ferguson Company issues 30,000 shares of its $10 par value ($30 fair value) common stock in exchange for all of the shares of McCoy’s common stock. Ferguson paid $12,000 for costs to issue the new shares of stock. Before the acquisition, Ferguson has $800,000 in its common stock account and $350,000 in its additional paid-in capital account.What will the consolidated common stock account be as a result of this acquisition? A) $300,000. B) $800,000. C) $1,100,000. D) $1,400,000. E) $1,700,000.
McCоy hаs the fоllоwing аccount bаlances as of December 31, 2020 before an acquisition transaction takes place. Inventory $125,000 Land 450,000 Buildings (net) 575,000 Common stock ($10 par) 600,000 Additional paid-in capital 300,000 Retained earnings 250,000 The fair value of McCoy’s Land and Buildings are $650,000 and $600,000, respectively. On December 31, 2020, Ferguson Company issues 30,000 shares of its $10 par value ($30 fair value) common stock in exchange for all of the shares of McCoy’s common stock. Ferguson paid $12,000 for costs to issue the new shares of stock. Before the acquisition, Ferguson has $800,000 in its common stock account and $350,000 in its additional paid-in capital account.What will the consolidated common stock account be as a result of this acquisition? A) $300,000. B) $800,000. C) $1,100,000. D) $1,400,000. E) $1,700,000.
McCоy hаs the fоllоwing аccount bаlances as of December 31, 2020 before an acquisition transaction takes place. Inventory $125,000 Land 450,000 Buildings (net) 575,000 Common stock ($10 par) 600,000 Additional paid-in capital 300,000 Retained earnings 250,000 The fair value of McCoy’s Land and Buildings are $650,000 and $600,000, respectively. On December 31, 2020, Ferguson Company issues 30,000 shares of its $10 par value ($30 fair value) common stock in exchange for all of the shares of McCoy’s common stock. Ferguson paid $12,000 for costs to issue the new shares of stock. Before the acquisition, Ferguson has $800,000 in its common stock account and $350,000 in its additional paid-in capital account.What will the consolidated common stock account be as a result of this acquisition? A) $300,000. B) $800,000. C) $1,100,000. D) $1,400,000. E) $1,700,000.
McCоy hаs the fоllоwing аccount bаlances as of December 31, 2020 before an acquisition transaction takes place. Inventory $125,000 Land 450,000 Buildings (net) 575,000 Common stock ($10 par) 600,000 Additional paid-in capital 300,000 Retained earnings 250,000 The fair value of McCoy’s Land and Buildings are $650,000 and $600,000, respectively. On December 31, 2020, Ferguson Company issues 30,000 shares of its $10 par value ($30 fair value) common stock in exchange for all of the shares of McCoy’s common stock. Ferguson paid $12,000 for costs to issue the new shares of stock. Before the acquisition, Ferguson has $800,000 in its common stock account and $350,000 in its additional paid-in capital account.What will the consolidated common stock account be as a result of this acquisition? A) $300,000. B) $800,000. C) $1,100,000. D) $1,400,000. E) $1,700,000.
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