in Tutorials

Assume that Botkins acquired Volkerson on January 1, 2017 and that Volkerson maintains a separate corporate existence. At what amount did Botkins record the in

1 View

A)  $  56,000.

B)  $182,000.

C)  $209,000.

D)  $261,000.

E)  $312,000.

Answer: B

Learning Objective: 02-06c

Topic: Journal entry―Investment with no dissolution

Difficulty: 1 Easy

Blooms: Apply

AACSB: Knowledge Application

AICPA: BB Critical Thinking

AICPA: FN Measurement

Feedback: $3.25 × 56,000 = $182,000

What do you think?

0 Points
Upvote Downvote

Written by Homework Lance

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

Assume that Bullen issued 12,000 shares of common stock, with a $5 par value and a $47 fair value, to obtain all of Vicker’s outstanding stock. In this acquisi

Assume that Botkins acquired Volkerson on January 1, 2017. Immediately afterwards, what is the value of the consolidated Common Stock?