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Advanced Accounting: I need help from someone who knows what they are doing, and can provide an explanation in support of their answer. I do
Advanced Accounting: I need help from someone who knows what they are doing, and can provide an explanation in support of their answer. I do know that stock registration fees are netted against APIC, but I do not know why my entry is not balancing.
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Acquisition Cost Potluck Corp. acquired all of the net assets of Sauers Corp. on June 30, 2016, in acquisition are as follows: Tangible assets... Intangible assets.. Liabilities $25,000,000 90,000,000 55,000,000 Potluck pays S100 million in cash and issues 1,500,000 shares of stock to the former owners of Sauers. Potluck's stock has a par value of $1/share. The market price of the shares at the date of acquisition, S40 share, is used to value the shares issued. Registration fees for the stock are $750,000, and legal and con- sulting fees connected with the acquisition are S900,000, both paid in cash Required Record the acquisition on June 30,2016Step by Step Solution
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