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Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910 Exercise 8
Prior to being united in a business combination.Atkins, Inc., and Waterson Corporation had the following stockholders' equity figures: 
Atkins issues 51,000 new shares of its common stock valued at $3 per share for all of the outstanding stock of Waterson.Immediately afterward, what are consolidated Additional Paid- In Capital and Retained Earnings, respectively
a.$104,000 and $300,000.
b.$110,000 and $410,000.
c.$192,000 and $300,000.
d.$212,000 and $410,000.
Atkins issues 51,000 new shares of its common stock valued at $3 per share for all of the outstanding stock of Waterson.Immediately afterward, what are consolidated Additional Paid- In Capital and Retained Earnings, respectively a.$104,000 and $300,000.
b.$110,000 and $410,000.
c.$192,000 and $300,000.
d.$212,000 and $410,000.
Explanation
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Retained earnings:
Retained earnings ar...
Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
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