2. Acquired for cash, 70 percent of the outstanding common stock of Sam Corporation at $160 per...

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2. Acquired for cash, 70 percent of the outstanding common stock of Sam Corporation at $160 per share. The stockholders’ equity of Sam on January 1, 2016, consisted of the following:

Common stock, par value $40 $240,000 Capital in excess of par value 80,000 Retained earnings 160,000

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Advanced Accounting

ISBN: 9781292214597

13th Global Edition

Authors: Joseph H. Anthony, Bruce Bettinghaus, Floyd A. Beams, Kenneth Smith

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