Compute the consolidated common stock account at December 31, 2018

A)  $1,080.

B)  $1,480.

C)  $1,380.

D)  $2,280.

E)  $2,680.

Answer: C

Learning Objective: 02-05

Learning Objective: 02-06a

Learning Objective: 02-07

Topic: Acquisition―Calculate consideration transferred

Topic: Acquisition―Calculate consolidated balances

Difficulty: 2 Medium  

Blooms: Apply

AACSB: Knowledge Application

AICPA: BB Critical Thinking

AICPA: FN Measurement

Feedback: Goodwin Stock (par value $1,080) + Stock Issued for Corr (par value $10 × 30 shares) = $1,080 + $300 = $1,380