Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

January 1, 2019, We Establish Arab Capital Insurance Inc. With Capital $995,000 Cash And We Purchase Apple And David Inc. They Use Acquisition Methods, We

image text in transcribed

January 1, 2019, We Establish Arab Capital Insurance Inc. With Capital $995,000 Cash And We Purchase Apple And David Inc. They Use Acquisition Methods, We Paid $650,000 Cash For Apple Inc. Also, $25,500 investment Expenses. We Paid $235,000 Cash For David Inc. Also, $9500 Investment Expenses. As A Result Of This Transaction Both Apple And David Inc. Merge Into Arab Capital Insurance Inc. Please Answer The Following Questions 1. Total Assets After Transaction Took Place. 2. Total Cash After Transaction Took Place. 3. Total Goodwill After Transaction Took Place. 4. Total Retain Earning After Transaction Took Place. 5. Total equity and Liabilities After Transaction Took Place. January 1, 2019, We Establish Arab Capital Insurance Inc. With Capital $995,000 Cash And We Purchase Apple And David Inc. They Use Acquisition Methods, We Paid $650,000 Cash For Apple Inc. Also, $25,500 investment Expenses. We Paid $235,000 Cash For David Inc. Also, $9500 Investment Expenses. As A Result Of This Transaction Both Apple And David Inc. Merge Into Arab Capital Insurance Inc. Please Answer The Following Questions 1. Total Assets After Transaction Took Place. 2. Total Cash After Transaction Took Place. 3. Total Goodwill After Transaction Took Place. 4. Total Retain Earning After Transaction Took Place. 5. Total equity and Liabilities After Transaction Took Place

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Corporate Fraud

Authors: Tracy L. Coenen

1st Edition

047019412X, 978-0470194126

More Books

Students also viewed these Accounting questions

Question

How does a stock dividend differ from a stock split?

Answered: 1 week ago

Question

Identify conflict triggers in yourself and others

Answered: 1 week ago