By Floyd A. Beams

An in-depth advisor to accounting that displays the main updated company developments.This accomplished textbook addresses functional monetary reporting difficulties whereas reflecting contemporary enterprise advancements and adjustments in accounting standards.This version has been rewritten to align with the monetary Accounting criteria Board Accounting criteria Codification.

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Additional direct costs of the business combination consist of Securities and Exchange Commission (SEC) fees of $5,000, accountants’ fees in connection with the SEC registration statement of $10,000, costs for printing and issuing the common stock certificates of $25,000, and finder’s and consultants’ fees of $80,000. Pop records the issuance of the 100,000 shares on its books as follows (in thousands): Investment in Son (+A) Common stock, $10 par (+SE) Additional paid-in capital (+SE) To record issuance of 100,000 shares of $10 par common stock with a market price of $16 per share in a business combination with Son Corporation.

D. For intangible assets with renewal or extension terms, the weighted-average period before the next renewal or extension (both explicit and implicit), by major intangible asset class. This information also shall be disclosed separately for each material business combination or in the aggregate for individually immaterial business combinations that are material collectively if the aggregate fair values of intangible assets acquired, other than goodwill, are significant. The following information shall be disclosed in the financial statements or the notes to financial statements for each period for which a statement of financial position is presented: a.

What is the amount of goodwill resulting from the acquisition? a 0 b $100,000 c $300,000 d $360,000 E 1-3 Prepare stockholders’ equity section The stockholders’ equities of Pal Corporation and Sip Corporation at January 1 were as follows (in thousands): Capital stock, $10 par Other paid-in capital Retained earnings Stockholders’ equity Pal Sip $3,000 400 1,200 $4,600 $1,600 800 600 $3,000 On January 2, Pal issued 300,000 of its shares with a market value of $20 per share for all of Sip’s shares, and Sip was dissolved.

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