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Please, show the journal entries, calculation of GW, the differences between BV and FV, prepare WPE, and the cosolidaed worksheet. In the consolidated worksheet, please
Please, show the journal entries, calculation of GW, the differences between BV and FV, prepare WPE, and the cosolidaed worksheet.
In the consolidated worksheet, please ensure that you adjust the parent column with the JE that you have created for the consolidation as each account you used in JE has to be reflected in the parent column. Thanks
Please, double checked your work. make sure you show all work done and claer.
34. On January 1, NewTune Company exchanges 15,000 shares of its common stock for all of the outstanding shares of On-the-Ga, Page $7 Ine. Each of NewTune's shares has a $4 par value and a $50 fair value. The fair value of the stock exchanged in the acquisition was considered equal to On-the-Go's fair value. NewTune also paid $25,000 in stock registration and issuance costs in connection with the merger. Several of On-the-Go's accounts' fair values differ from their book values on this date (credit balances in parentheses): a. Assume that this combination is a statutory merger so that On-the-Go's accounts will be transferred to the records of NewTune. Onthe-Go will be dissolved and will no longer exist as a legal entity. Prepare a postcombination balance sheet for NewTune as of the acquisition date. b. Assume that no dissolution takes place in connection with this combination. Rather, both companies retain their separate legal identities. Prepare a worksheet to consolidate the two companies as of the combination date. c. How do the balance sheet accounts compare across parts (a) and (b)Step by Step Solution
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