Please help with the attached I need explanations on how you got your answers.

Thanks Mike

On June 1, Cline Co. paid $892,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on June 1 follow: Cash $ 178,000 Account s receivabl e 237,000 Capitaliz ed software costs 374,000 Goodwil 110,000 l Liabilitie (201,000 s Net assets $ ) 698,000 On June 1, Renn's accounts receivable had a fair value of $155,000. Additionally, Renn's inprocess research and development was estimated to have a fair value of $235,000. All other items were stated at their fair values. On Cline's June 1 consolidated balance sheet, how much is reported for goodwill? $69,000. $374,000. $41,000. $151,000. Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following stockholders' equity figures: Common stock ($1 par value) Additional paid-in capital Retained earnings Atkins $265,000 132,500 316,000 Waterson $ 46,000 20,500 150,000 Atkins issues 68,000 new shares of its common stock valued at $3 per share for all of the outstanding stock of Waterson. Immediately afterward, what are consolidated Additional Paid- In Capital and Retained Earnings, respectively? $153,000 and $466,000. $147,000 and $316,000. $255,000 and $466,000. $268,500 and $316,000. On May 1, Donovan Company reported the following account balances: Current $ assets 116,000 Buildin gs & equipme nt (net) 220,500 Total assets $ 336,500 Liabiliti $ es 62,500 Commo n stock 150,000 Retaine d earnings 124,000 Total liabilities $ and equities 336,500 On May 1, Beasley paid $441,400 in stock (fair value) for all of the assets and liabilities of Donovan, which will cease to exist as a separate entity. In connection with the merger, Beasley incurred $22,200 in accounts payable for legal and accounting fees. Beasley also agreed to pay $82,700 to the former owners of Donovan contingent on meeting certain revenue goals during the following year. Beasley estimated the present value of its probability adjusted expected payment for the contingency at $24,200. In determining its offer, Beasley noted the following: Donovan holds a building with a fair value $36,000 more than its book value. Donovan has developed unpatented technology appraised at $29,800, although is it not recorded in its financial records. Donovan has a research and development activity in process with an appraised fair value of $50,600. The project has not yet reached technological feasibility. Book values for Donovan's current assets and liabilities approximate fair values. What should Beasley record as total liabilities incurred or assumed in connection with the Donovan merger? $22,200. $108,900. $84,700. $150,000. On May 1, Donovan Company reported the following account balances: Current $ assets 113,500 Buildin gs & equipme nt (net) 261,500 Total assets $ 375,000 Liabiliti $ es 95,000 Commo n stock 150,000 Retaine d earnings 130,000 Total liabilities $ and equities 375,000 On May 1, Beasley paid $453,900 in stock (fair value) for all of the assets and liabilities of Donovan, which will cease to exist as a separate entity. In connection with the merger, Beasley incurred $19,400 in accounts payable for legal and accounting fees. Beasley also agreed to pay $83,900 to the former owners of Donovan contingent on meeting certain revenue goals during the following year. Beasley estimated the present value of its probability adjusted expected payment for the contingency at $22,000. In determining its offer, Beasley noted the following: Donovan holds a building with a fair value $31,200 more than its book value. Donovan has developed unpatented technology appraised at $27,600, although is it not recorded in its financial records. Donovan has a research and development activity in process with an appraised fair value of $52,500. The project has not yet reached technological feasibility. Book values for Donovan's current assets and liabilities approximate fair values. How much should Beasley record as total assets acquired in the Donovan merger? On July 1, TruData Company issues 10,050 shares of its common stock with a $5 par value and a $49 fair value in exchange for all of Webstat Company's outstanding voting shares. Webstat's precombination book and fair values are shown below along with book values for TruData's accounts. TruData Webstat Webstat Book Values Book Values Fair Values Revenues (1/1 to 7/1) $(279,000) $(138,500) Expenses (1/1 to 7/1) 214,000 100,000 Retained earnings, 1/1 (139,000) (197,500) Cash and receivables 122,500 66,300 $ 66,300 Inventory 214,000 158,000 198,400 Patented technology (net) 248,750 198,500 231,400 Land 404,250 211,500 252,900 Buildings and equipment (net) 108,000 75,950 75,950 Liabilities (583,500) (374,250) (360,650) Common stock (300,000) (70,000) Additional paid-in capital (10,000) (30,000) -2-2 http:/ /ezto.mhedu 1. On its acquisition-date consolidated balance sheet, what amount should TruData report as goodwill? $51,150. -2-2 http:/ /ezto.mhedu 2. On its acquisition-date consolidated balance sheet, what amount should TruData report as patented technology (net)? $248,750. -1 scoreplus no {"activityInfo":{"in no no no no no