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P4-26 Computation of Consolidated Balances Post Records. Inc. acquired all of Seript Studios' voting shares on Janeary 1, 20X2, for $280,000. Post's balance sheet immediately
P4-26 Computation of Consolidated Balances Post Records. Inc. acquired all of Seript Studios' voting shares on Janeary 1, 20X2, for $280,000. Post's balance sheet immediately after the combination contained the following balances: Script Stadios' balance sheet at acquisition contained the following balancex On the date of combination, the inventory held by Script had a fair value of $170,000, and its buildings and recording equipment had a fair value of $375,000. Goodwill reported by Seript resulted from a purchase of Sound Stage Enterprises in 20XI. Sound Stage was liquidated and its assets and liabilities were brought onto Seript's books. Required Compute the balances to be reported in the consolidated balance sheet immediately after the acquisition for: a. Inventory. b. Buildings and Equipment (net). c. Investment in Script Stock. d. Goodwill. e. Common Stock. f. Retained Earnings
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