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On July 1, TruData Company issues 13,400 shares of its common stock with a $5 par value and a $35 fair value in exchange for
On July 1, TruData Company issues 13,400 shares of its common stock with a $5 par value and a $35 fair value in exchange for all of Webstat Company's outstanding voting shares. Webstats precombination book and fair values are shown below along with book values for TruData's accounts. Revenues (1/1 to 7/1) Expenses (1/1 to 7/1) Retained earnings, 1/1 Cash and receivables Inventory Patented technology (net) Land Buildings and equipment (net) Liabilities Common stock Additional paid-in capital TruData Book Values $ (292,600) 180,000 (118,000) 154,000 160,000 256,000 386,000 106,000 (520,000) (300,000) (11,400) Webstat Webstat Book Values Fair Values $ (140,000) 86,000 (168,000) 62,000 $ 62,000 154,000 182,000 196,000 204,000 212,000 224,000 84,000 84,000 (372,000) (340,000) (80,000) (34,000) On its acquisition-date consolidated balance sheet, what amount should TruData report as goodwill? On its acquisition-date consolidated balance sheet, what amount should TruData report as patented technology (net)? On its acquisition-date consolidated balance sheet, what amount should TruData report as common stock? On its acquisition-date consolidated balance sheet, what amount should TruData report as retained earnings as of July 1
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