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KatRina [158]
3 years ago
8

On August 31 of the current year, Pine Corp. issued 100,000 shares of its $20 par value common stock for all of the net assets o

f SAP, Inc., in a business combination. The fair value of Pine's common stock on the acquisition date was $36 per share. Pine paid a fee of $160,000 to the consultant who arranged this acquisition. Costs of registering and issuing the equity securities amounted to $80,000. No goodwill or gain on a bargain purchase was involved. What amount should Pine record for the net assets acquired?
Business
1 answer:
love history [14]3 years ago
8 0

Answer:

C. $3,600,000

Explanation:

Calculation to determine What amount should Pine record for the net assets acquired?

Using this formula

Net assets = shares Issued *Faiir value of common stock on the acquisition date

Let plug in the formula

Net assets= 100,000* $36 per share

Net assets=$3,600,000

Therefore the amount that Pine should record for the net assets acquired is $3,600,000

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Answer:

cost-based transfer pricing

Explanation:

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5 0
3 years ago
Individuals who provide baby-sitting and lawn-mowing services are<br> viewed by the IRS as?
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6 0
2 years ago
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4 0
3 years ago
Mary is introduced to three new people at a party. Later, however, she cannot remember the names of any of her new acquaintances
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Explanation:

7 0
3 years ago
Margaret Lindley paid $15,040 of interest on her $300,400 acquisition debt for her home (fair market value of $500,400), $4,040
Brums [2.3K]

Answer:

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Explanation:

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