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Bullen Inc. acquired 100% of the voting common sto...

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Bullen Inc. acquired 100% of the voting common stocks of Vicker, Inc. on January 1, 20X1. The book value and fair value of Vicker?s accounts on that date (prior to creating the combination) follow, along with the book value of Bullen?s accounts: Bullen Vicker Vicker Book Book Fair Value Value Value Retained Earnings $250,000 $240,000 Cash & Receivables170,000 70,000 $70,000 Inventory 230,000 170,000 210,000 Land 280,000 220,000 240,000 Building (net) 480,000 240,000 270,000 Equipment (net) 120,000 90,000 90,000 Liabilities 650,000 430,000 420,000 Common Stock 360,000 80,000 APIC 20,000 40,000 ?Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value to obtain all of Vicker?s outstanding stock. In this acquisition transaction, how much goodwill should be recognized? ?Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $42 fair value of the outstanding stock of Vicker. What is the consolidated Land as a result of this acquisition transaction? ?Assume the Bullen issued preferred stock with a par value of $240,000 and a fair value of $500,000 for all the outstanding shares of Vicker in an acquisition business combination. What will be the balance in the consolidated inventory and Land accounts? ?Assume that Bullen paid a total of $480,000 in cash for all of the shares of Vicker. In addition, Bullen paid $35,000 for secretarial and management time allocated to the acquisition trans action. What will be the balance in consolidated goodwill? ?Assume that Bullen paid a total of $480,000 in cash for all of the shares of Vicker. In addition, Bullen paid $35,000 to a group of attorneys for their work in arranging the combination to be accounted for as an acquisition. What will be the balance in consolidated goodwill?,I have now had to resubmit this question 3 times to CourseHero and I can not understand why I keep getting a message that you need more time to work on it. It has now been days and I have paid a significant amount of money per month to utilize your services and feel that my questions are just keep getting pushed bad and then I have to keep losing my "Question Submission Attempts" yet again to 're-submit' the very same question. How is that far. I keep extending the time period and I still don't get an answer. I am on a deadline too. Is there more than one person there qualified to review my accounting questions? See the attached file again in case the formatting did not come through with my question submission.

 

Paper#4309 | Written in 18-Jul-2015

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