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Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik
Edition 5ISBN: 978-1260575910Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik
Edition 5ISBN: 978-1260575910 Exercise 31
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 $300,000.
B) $110,000 and $410,000.
C) $192,000 and $300,000.
D) $212,000 and $410,000.
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 $300,000.
B) $110,000 and $410,000.
C) $192,000 and $300,000.
D) $212,000 and $410,000.
Explanation
Verified
Verified
Retained earnings are cumulative profits...
Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik
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