Puzzle Corporation acquired 100 percent of the common stock of Solver Company by issuing 10,000 shares of $10 par common stock with a market value of $60 per share.Summarized balance sheet data for the two companies immediately preceding the acquisition are as follows:

Required:
Determine the dollar amounts to be presented in the consolidated balance sheet for (1)total assets, (2)total liabilities,and (3)total stockholders' equity.

Question

Puzzle Corporation acquired 100 percent of the common stock of Solver Company by issuing 10,000 shares of $10 par common stock with a market value of $60 per share.Summarized balance sheet data for the two companies immediately preceding the acquisition are as follows:
  
Required:
Determine the dollar amounts to be presented in the consolidated balance sheet for (1)total assets, (2)total liabilities,and (3)total stockholders' equity.

Quizplus · Accepted Answer

The Answer of Puzzle Corporation acquired 100 percent of the common stock of Solver Company by issuing 10,000 shares of $10 par common stock with a market value of $60 per share.Summarized balance sheet data for the two companies immediately preceding the acquisition are as follows:
  
Required:
Determine the dollar amounts to be presented in the consolidated balance sheet for (1)total assets, (2)total liabilities,and (3)total stockholders' equity.

Puzzle Corporation Acquired 100 Percent of the Common Stock of Solver