Question
Prior to being united in a business combination taunton inc, and eubanks corp had the following stockholders' equity figures: Taunton Common stock ($1 par value)
Prior to being united in a business combination taunton inc, and eubanks corp had the following stockholders' equity figures:
Taunton
Common stock ($1 par value) $240,000
APIC : $120,000
Retained Earnings $370,000
Eubanks
Common stock ($1 par value) $640,000
APIC : $30,000
Retained Earnings $14,000
taunton issued 62,000 new shares of its common stock valued at $2.75/share for all of the outstanding stock of Eubanks.
Assume that taunton acquired Eubanks on 1/1/2020. Immediately afterwards what is the reproted amount of the common stock?
240,000
302,000
304,000
336,000
410,500
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