Essay
The stockholders' equities of Penn Corporation and Simon Corporation were as follows on January 1, 2016: 
On January 2, 2016 Penn Corp. issued 100,000 of its shares with a market value of $14 per share in exchange for all of Simon's shares, and Simon Corp. was dissolved. Penn Corp. paid $10,000 to register and issue the new common shares.
Required:
Prepare the stockholders' equity section of Penn Corp. balance sheet after the business combination on January 2, 2016.
Correct Answer:
Verified
Correct Answer:
Verified
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