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Monica [59]
2 years ago
15

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. The collection of assets and liabilities acquired do not meet the definition of a business under ASC 805. The fair value of Pine's common stock on the acquisition date was $63 per share. Pine paid a fee of $164,000 to the consultant who arranged this acquisition. Costs of registering and issuing the equity securities amounted to $89,000. What amount should Pine record in total for the net assets acquired?
Business
1 answer:
sveticcg [70]2 years ago
6 0

The amount that Pine Corp. should record for the net assets acquired is <u>$6,300,000.</u>

<h3>How much should Pine Corp. record?</h3>

The amount that should be recorded as the total for net assets acquired, is the fair value of the shares sold to finance the purchase.

In this case that is:

= 100,000 shares x 63 per share

= $6,300,000

In conclusion, $6,300,000 should be recorded.

Find out more on business acquisitions at brainly.com/question/26277900.

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3. Prepare journal entries to record the machine’s disposal under each separate situation: (a) it is sold for $22,000 cash; (b)
Fofino [41]

Answer and Explanation:

The Journal entries are shown below:-

1. Cash Dr, $22,000

Accumulated depreciation-machine Dr, $148,800

($201,600 - $23,040 ÷ 6 × 5)

Loss on Sale of Machine Dr, $30,800

                 To Machine $201,600  ($192,000 + $8,000 + $1,600)

(To record Sale of the machine)

2. Cash Dr, $88,000

Accumulated depreciation-machine $148,800

($201,600 - $23,040 ÷ 6 × 5)

          To Gain on Sale of Machine $35,200

          To Machine $201,600

(Being Sale of the machine is recorded)

3. Cash Dr, $32,500

   Accumulated depreciation-machine Dr, $148,800

   Loss on disposal of Machine $20,300

                To Machine $201,600

(Being Sale of the machine is recorded)

7 0
3 years ago
Suppose that the quantity of DVD players sold increased from 200 to 400 when the price fell from $225 to $175. Over this price r
Nataly_w [17]

Answer:

Option D.

Explanation:

Given information:

Q_1=200, Q_2=400

P_1=225, P_2=175

Formula for price elasticity of demand is

E_d=\frac{Q_2-Q_1}{P_2-P_1}\times \frac{P_1+P_2}{Q_1+Q_2}

Substitute the given values in the above formula.

E_d=\frac{400-200}{175-225}\times \frac{225+175}{200+400}

E_d=\frac{200}{-50}\times \frac{400}{600}

E_d=-\frac{8}{3}

E_d\approx -2.67

Absolute value is

|E_d|= |-2.67|=2.67

The absolute value of the price elasticity of demand for DVD players is 2.67.

Therefore, the correct option is D.

6 0
3 years ago
Fitz Company reports the following information.
Paha777 [63]

Answer and Explanation:

The preparation of the operating activities section is presented below:

Cash flows from operating activities

Net income  $374,000

Adjustments made  

Add: Depreciation  $44,000

add: Amortisation expanses  $7,200

Add: Accounts receivable decrease  $17,100

Add: Inventory decrease  $42,000

Less: Prepaid expense increase  -$4,700

Less: Accounts payable decrease  -$8,200

Add: Wages payable increases  $1,200

Less: Gain on sale of machinery  -$6,000

Net cash provided by operating activities  $466,600

4 0
3 years ago
Two detectives think that a murder suspect has the murder weapon hidden in his apartment. Before they can search the apartment,
777dan777 [17]

Answer:

Two detectives think that a murder suspect has the murder weapon hidden in his apartment. Before they can search the apartment, they have to obtain a search warrant from a judge. Why are police required to get warrants before completing such searches?

They gets such warrant in order not be charged for being trespass which is punishable under the law, it entails when an outsider without invitation intrudes into another person's home, such could lead to being accused of theft, trespass among others.

Explanation:

4 0
3 years ago
Look at Exercise 19.2. Compute the opportunity costs of producing sweaters and wine in both France and Tunisia. Who has the lowe
monitta

Answer:

Answer Illustration : Opportunity Cost of producing Wine is lesser in France, Opportunity Cost of producing Sweaters is lesser in Tunisia. So, France has comparative advantage in Wine, Tunisia in Sweater.

Explanation:

Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.

Opportunity Cost of producing Sweaters & Wine in France & Tunisia are quantities of other goods (Sweaters or Tunias) sacrifised while choosing either. Sweater Opportunity Cost - Wines sacrifised, Wine Opportunity Cost - Sweaters sacrifised.

The country has a comparative advantage in a good if it can produce it with relatively less opportunity cost (in terms of other good sacrifised) than other country.

Ex : Production Possibilities

                   Wine            Sweater    Trade off (Wine :Sweater)

France          10                   5              1:0.5  or 2:1

Tunisia          8                   24              1:3  or 0.33:1

  • France produces Wine with lesser opportunity cost (sweater sacrifised) than Tunisia  [0.5 sweater < 3 sweaters] ; it has comparative advantage in Wine.
  • Tunisia produces Sweater with less opportunity cost (wine sacrifised) than France [ 0.33 wine <  2 wines] ; it has comparative advantage in Tunisia
7 0
3 years ago
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