Answered step by step
Verified Expert Solution
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
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started