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Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 20X1. Assume that Bullen issued 12,000 shares of common stock
Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 20X1. Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value to obtain al of Vicker's outstanding stock. The book value and fair value of a Vicker's accounts on that date (prior to creating the combination) follow, along with the book value of Bullen's accounts (also prior to acquisition):
Bullen Book Value | Vicker Book Value | Vicker Fair Value | |
Retained earning, 1/1/X1 | 250,000 | 240,000 | 70,000 |
Cash and receivable | 170,000 | 70,000 | 210,000 |
Inventory | 230,000 | 170,000 | 210,000 |
Land | 280,000 | 220,000 | 240,000 |
Building (net) | 480,000 | 240,000 | 270,000 |
Equipment (net) | 120,000 | 90,000 | 90,000 |
Liabilities | 650,000 | 430,000 | 420,000 |
Common Stock | 360,000 | 80,000 | |
Additional paid-in capital | 20,000 | 40,000 |
What will be total consolidated assets?
What will be total consolidated equity?
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