Taller $1$ Asignaci$$n

$1-$ Journal entries to record an acquisition Pan Company issued $480,000$ shares of $$10$ par common stock with a fair value of $$10,200,000$ for all the voting common stock of Set Company. In addition, Pan incurred the following costs:

Legal fees to arrange the business combination Cost of SEC registration, including accounting and legal fees

$$100,000$

Cost of printing and issuing net stock certificates $12,000$

Indirect costs of combining, including allocated overhead and executive salaries

$80,000$

Immediately before the acquisition in which Set Company was dissolved, Set's assets and equities were as follows $($in thousands$)$:

Book Value

Current assets

$$4,400$

Plant assets

Liabilities

$1,200$

Common stock

Retained earnings

Fair Value $$4,000$

$\backslash$table$[[6000,8,800]]$

$48,000$