QUESTION 2 USE THE FOLLOWING INFORMATION FOR QUESTIONS 2-4 On January 1, 2020 Tupaz Co. Issues 10,000 shares of It's common stock with a 55 par value and a $100 fair value in exchange for 100% of the outstanding voting stock of Prevost Ltd. The following are the preacquisition book and fair values of Prevost and the book values of Tupaz's accounts: Tupaz Book Values Prevost Book Values Prevost Fair Values Current Assets Land Building, net Patented Technology Liabilities Common stock APIC Retained Earnings 300,000 250,000 400.000 100.000 -350.000 -25,000 -175.000 -500,000 75,000 25,000 125,000 0 -40.000 -10.000 -15.000 - 160.000 75.000 40.000 200.000 20.000 40.000 In addition to the assets listed above. Tupaz determines that Prevost's Customer List has a $220.000 fair value at the date of acquisition Tupaz estimates that the Building has a remaining estimated life of 5 years the Patented Technology 4 years and the Customer List 11 year 5 Calculate goodwill at the date of acquisition QUESTION 3 Assuming the following book balances on December 31,2024, compute the consolidated totals for each category: Tupaz Prevost Consolidated Land Building PIT Cust List 300,000 320,000 60,000 0 40,000 100,000 0 0 QUESTION 4 If Tupaz had issued no additional shares since the acquisition on January 1, 2020, what are the consolidated totals on December 31, 2024 for: Consolidated Common Stock APIC QUESTION 2 USE THE FOLLOWING INFORMATION FOR QUESTIONS 2-4 On January 1, 2020 Tupaz Co. Issues 10,000 shares of It's common stock with a 55 par value and a $100 fair value in exchange for 100% of the outstanding voting stock of Prevost Ltd. The following are the preacquisition book and fair values of Prevost and the book values of Tupaz's accounts: Tupaz Book Values Prevost Book Values Prevost Fair Values Current Assets Land Building, net Patented Technology Liabilities Common stock APIC Retained Earnings 300,000 250,000 400.000 100.000 -350.000 -25,000 -175.000 -500,000 75,000 25,000 125,000 0 -40.000 -10.000 -15.000 - 160.000 75.000 40.000 200.000 20.000 40.000 In addition to the assets listed above. Tupaz determines that Prevost's Customer List has a $220.000 fair value at the date of acquisition Tupaz estimates that the Building has a remaining estimated life of 5 years the Patented Technology 4 years and the Customer List 11 year 5 Calculate goodwill at the date of acquisition QUESTION 3 Assuming the following book balances on December 31,2024, compute the consolidated totals for each category: Tupaz Prevost Consolidated Land Building PIT Cust List 300,000 320,000 60,000 0 40,000 100,000 0 0 QUESTION 4 If Tupaz had issued no additional shares since the acquisition on January 1, 2020, what are the consolidated totals on December 31, 2024 for: Consolidated Common Stock APIC
