REFERENCE: Ref.02_06 The Financial Balances for the Atwood Company and the Franz

Multiple Choice

REFERENCE: Ref.02_06
The financial balances for the Atwood Company and the Franz Company as of December 31,20X1,are presented below.Also included are the fair values for Franz Company's net assets.
Note: Parenthesis indicate a credit balance
Assume a business combination took place at December 31,20X1.Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz.Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid.
-Compute consolidated equipment (net) at the date of the combination.

A) $400.
B) $660.
C) $1,060.
D) $1,040.
E) $1,050.