subject
Business, 13.10.2020 03:01 jose477

The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value
Inventory $ 644,750 $ 609,000
Land 779,250 1,086,750
Buildings 1,770,000 2,138,250
Customer relationships 0 842,250
Accounts payable (102,000 ) (102,000 )
Common stock ( 2,000,000 )
Additional paid-in capital (500,000 )
Retained earnings 1/1 (424,500 )
Revenues (457,000 )
Expenses 289,500
Arturo Company pays $4,130,000 cash and issues 28,200 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont’s common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $32,400 and Arturo pays $49,800 for legal fees to complete the transaction.
Prepare Arturo’s journal entry to record its acquisition of Westmont. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 02:50
Seattle bank’s start-up division establishes new branch banks. each branch opens with three tellers. total teller cost per branch is $96,000 per year. the three tellers combined can process up to 90,000 customer transactions per year. if a branch does not attain a volume of at least 60,000 transactions during its first year of operations, it is closed. if the demand for services exceeds 90,000 transactions, an additional teller is hired and the branch is transferred from the start-up division to regular operations. required what is the relevant range of activity for new branch banks
Answers: 2
question
Business, 22.06.2019 22:20
With q7 assume the sweet company uses a plantwide predetermined overhead rate with machine-hours as the allocation base.and for q 10,11,13,and 14,assume that the company use department predetermined overhead rates with machine-hours as the allocation bade in both departements.7. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answers to nearest whole dollar.)total price for the job for job p -job q selling price per unit for job p q . how much manufacturing overhead was applied from the molding department to job p and how much was applied to job q? (do not round intermediate calculations.) job p job q manufacturing overhead applied for job p for job q . how much manufacturing overhead was applied from the fabrication department to job p and how much was applied to job q? (do not round intermediate calculations.)job p job q manufacturing overhead applied for job p for job q . if job q included 30 units, what was its unit product cost? (do not round intermediate calculations. round your final answer to nearest whole dollar.)14. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answer to nearest whole dollar.)total price for the job p for job q selling price per unit for job p for job q
Answers: 1
question
Business, 22.06.2019 23:30
Sports leave thousands of college athletes with little time for their studies. this is an example of
Answers: 1
question
Business, 23.06.2019 00:10
Warren company plans to depreciate a new building using the double declining-balance depreciation method. the building cost $870,000. the estimated residual value of the building is $57,000 and it has an expected useful life of 20 years. assuming the first year's depreciation expense was recorded properly, what would be the amount of depreciation expense for the second year?
Answers: 2
You know the right answer?
The following book and fair values were available for Westmont Company as of March 1. Book Value Fa...
Questions
question
English, 03.11.2020 17:20
question
Mathematics, 03.11.2020 17:20
question
Mathematics, 03.11.2020 17:20
Questions on the website: 13722361