Business, 08.07.2021 17:10 Robinlynn228
Beni Corp. purchased 100% of Carr Corp.'s outstanding capital stock for $430,000 cash. Immediately before the purchase, the balance sheets of both corporations reported the following:
Beni Carr
Assets $2,000,000 $750,000
Liabilities $750,000 $400,000
Common stock 1,000,000 310,000
Retained earnings __250,000 __40,000
Liabilities and stockholders' equity $2,000,000 $750,000
On the date of purchase, the fair value of Carr's assets was $50,000 more than the aggregate carrying amounts. In the consolidated balance sheet prepared immediately after the purchase, the consolidated stockholders' equity should amount to:
a. $1,680,000
b. $1,650,000
c. $1,600,000
d. $1,250,000
Answers: 1
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Beni Corp. purchased 100% of Carr Corp.'s outstanding capital stock for $430,000 cash. Immediately b...
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