Question
Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following stockholders equity figures: Atkins Waterson Common stock ($1 par
Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following stockholders equity figures:
| Atkins | Waterson | |||
| Common stock ($1 par value) | $ | 217,000 | $ | 60,000 |
| Additional paid-in capital | 108,500 | 27,500 | ||
| Retained earnings | 312,000 | 127,250 | ||
Atkins issues 52,250 new shares of its common stock valued at $4 per share for all of the outstanding stock of Waterson. Immediately afterward, what are consolidated Additional Paid-In Capital and Retained Earnings, respectively?
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College Accounting A Practical Approach Chapters 1-15
Authors: Jeffrey Slater
7th Edition
0130954888, 978-0130954886
