Beta Company acquired 100 percent of the voting common shares of Standard Video Corporation, its bitter rival, by issuing bonds with a par value and fair value of $150,000. Immediately prior to the acquisition, Beta reported total assets of $500,000, liabilities of $280,000, and stockholders' equity of $220,000. At that date, Standard Video reported total assets of $400,000, liabilities of $250,000, and stockholders' equity of $150,000. Included in Standard's liabilities was an account payable to Beta in the amount of $20,000, which Beta included in its accounts receivable.

12.

Required information

Based on the preceding information, what amount of total assets did Beta report in its balance sheet immediately after the acquisition?

$500,000

$650,000

$750,000

$900,000

13.

Required information

Based on the preceding information, what amount of total assets was reported in the consolidated balance sheet immediately after acquisition?

$650,000

$880,000

$920,000

$750,000

14.

Required information

Based on the preceding information, what amount of total liabilities was reported in the consolidated balance sheet immediately after acquisition?

$500,000

$530,000

$280,000

$660,000

15.

Required information

Based on the preceding information, what amount of stockholders' equity was reported in the consolidated balance sheet immediately after acquisition?

$220,000

$150,000

$370,000

$350,000