Question
?OOn June 30, 2015, Wisconsin, Inc., issued $444,550 in debt and 15,200 new shares of its $10 par value stock to Badger Company owners in
?OOn June 30, 2015, Wisconsin, Inc., issued $444,550 in debt and 15,200 new shares of its $10 par value stock to Badger Company owners in exchange for all of the outstanding shares of that company. Wisconsin shares had a fair value of $40 per share. Prior to the combination, the financial statements for Wisconsin and Badger for the six-month period ending June 30, 2015, were as follows:
(Note: Parentheses indicate a credit balance.
Wisconsin also paid $38,700 to a broker for arranging the transaction. In addition, Wisconsin paid $45,800 in stock issuance costs. Badger's equipment was actually worth $701,250, but its patented technology was valued at only $303,900.
What are the consolidated balances for the following accounts? (Input all amounts as positive values.)
What are the consolidated balances for the following accounts? (Input all amounts as positive values.)
Accounts A. Net Income B. Retained earnings 01/01/15 C. Patented technology D. Goodwill E. Liabilities F. Common Stock G. Additional paid in capital
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