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CAN SOMEONE PLEASE HELP ME OUT WITH THE CORRECT ANSWERS PLEASE. NO SPAM. I KEEP GETTING ALL WRONG CALCULATIONS. THANK YOU! On December 31, Pacifica,

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CAN SOMEONE PLEASE HELP ME OUT WITH THE CORRECT ANSWERS PLEASE. NO SPAM. I KEEP GETTING ALL WRONG CALCULATIONS.

THANK YOU!

On December 31, Pacifica, Inc., acqulred 100 percent of the voting stock of Seguros Company. Pacifica will malntain Seguros as a wholly owned subsldlary with its own legal and accounting identity. The consideration transferred to the owner of Seguros Included 54,595 newly Issued Pacifica common shares ($20 market value, $5 par value) and an agreement to pay an additional $130,000 cash If Seguros meets certaln project completion goals by December 31 of the following year. Pacifica estimates a 50 percent probablity that Seguros will be successful In meeting these goals and uses a 4 percent discount rate to represent the time value of money. Immediately prior to the acquisition, the following data for both firms were available eguros Seguros Pacifica Book Values Fair Values $(1,688,8e8) Revenues Expenses 1,12e,0e8 s (488,8e8) (969,8e8) (488,888) Net income Retained earnings, 1/1 Net income Dividends declared 173,888 $ (1,276,888) Retained earnings, 12/31 Cash Receivables and inventory Property, plant, and equipment Trademarks S 184,80 136,e 136,e8 95,488 661,808 275,8e8 591,888 1,56e,8e8 318,888 2,653,808 115,888 479,808 224,808 954,808 Total assets Liabilities Common stock Additional paid-in capital Retained earnings s (582,888) (231,8)(231,8e8) (488,888) (288,888) (78,8ee) 0) (453,80e) S (2,653,8e8) (954,8e0) (475,8e8) 1,276,888 Total liabilities and equities In addition, Pacifica assessed a research and development project under way at Seguros to have a falr value of $109,000. Although not yet recorded on Its books, Pacifica pald legal fees of $15,900 In connection with the acqulsition and $9,500 In stock Issue costs. a. Prepare Pacifica's entries to account for the consideration transferred to the former owners of Seguros, the direct combination costs, and the stock issue and registration costs. b.&c. Present a worksheet showing the postacquisition column of accounts for Pacifica and the consolidated balance sheet as of the acquisition date Req AReq B and C Prepare Pacifica's entries to account for the consideration transferred to the former owners of Seguros, the direct combination costs, and the stock issue and registration costs. (Use a 0.961538 present value factor where applicable. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the acquisition of Seguros Company Note: Enter debits before credits. ransaction General Journal Debit Credit Record entry Clear entry View general jourmal

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