complete table A for me please.
On January 1, NewTune Company exchanges 15,000 shares of its common stock for all of the outstanding shares of On-the-Go, Inc Each of NewTune's shares has a $4 par value and a $50 fair value. The fair value of the stock exchanged in the acquisition was considered equal to On-the-Go's fair value. NewTune also paid $25,000 in stock registration and Issuance costs in connection with the merger. Several of On-the-Go's accounts' fair values differ from their book values on this date (credit balances in parentheses) Receivables Trademarks Record music catalog In-process research and development Notes payable Book Values $ 65,000 95, een 60,000 (se, eee) Fair Values $ 63,eee 225,000 180.ee 200, eee (45, 080) Precombination book values for the two companies are as follows: Cash Receivables Trademarks Record music catalog Equipment (net) Total Assets Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings Total liabilities and equities NewTune On-the-Go 60, see $ 29,900 150,000 65,000 400,000 95,000 840,000 60,000 320,000 185, see $ 1,770,000 $ 354,000 $(110,000) $ (34,080) (370,000) (50,000) (400.000) (50, eee) (30,000) (38,000) (860,000 (190, eee) $(1,770,000) $(354, 000) a. Assume that this combination is a statutory merger so that On-the-Go's accounts will be transferred to the records of Newtune. On MacBook Assume that no dissolution takes place in connection with this combination. Rather, both companies retain their separate legal Identities. Prepare a worksheet to consolidate the two companies as of the combination date. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.) Show less Accounts NEWTUNE COMPANY AND ON-THE-GO, INO Consolidation Worksheet January 1, 20XX Consolidation Entries Nowtune On-the- Dabit Go, Inc. Credit $ 35,000$ 29,000 150.000 65,000 2.000 750,000 0 400,000 95,000 840,000 60,000 0 0 Consolidated Totals 64,000 213.000 0 0 625,000 1,020,000 200,000 OO Cash Receivables Investment in On-the-Go Trademarks Record music catalog In-process research and development Equipment (net) Goodwill Total assets Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings Total liabilities and equities OOO 320,000 105,000 0 0 $ 2.495,000 $ 354,000 $ (110,000) S (34,000) (370,000) (50,000) 460,000 (50,000) (695,000) (30,000) (860,000) (190,000) $ (1.575.000) $ (354,000) 5,000 50.000 30.000 190,000 $ 275,000 425,000 27,000 $ 2.574,000 $ 144,000 415,000 460,000 695,000 860,000 $ 2.574,000 $ 2,000 Next > 25 of 30 !!! Next > 25 of 30
