Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 9 (10 points) GreenAir Book CorGas Book CorGas Market Remaining Value Value Value Useful Life for 12/31/15 CorGas's Assets 12/31/15 1.800,000 S 400,000 Revenues

image text in transcribed
image text in transcribed
image text in transcribed
Question 9 (10 points) GreenAir Book CorGas Book CorGas Market Remaining Value Value Value Useful Life for 12/31/15 CorGas's Assets 12/31/15 1.800,000 S 400,000 Revenues 300,000 1,320,000 Expenses 88,000 RVE. 12/31/14 120,000 120,000 Cash 240,000 18,000 20,000 96,000 Inventory 280,000 50,000 160,000 860,000 480,000 1.400,000 Buildings (net) 100,000 160,000 820,000 Equipment (net) 92,000 92,000 320,000 Current Liabilities 100,000 Common Stock 450,000 Additional Paid-In Capital 1.800.000 Refer to the above. Assume that, on December 31, 2015, GreenAir issued 60,000 shares of common stock with a $1 par value and a $22 market value to obtain all of CorGas's outstanding stock, 1. Compute the consolidated balance for Land on the date of acquisition, 12/31/15. 2. Compute the consolidated balance for cash on the date of acquisition, 12/31/15. 3. Compute the consolidated balance for Common Stock on the date of acquisition, 12/31/15

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What is the specific purpose of an acceptable use policy?

Answered: 1 week ago