Solution-At what amount should Planar record the acquisition

At what amount should Planar record the acquisition

Assignment Help Accounting Basics

Reference no: EM132652659

Question - On August 31, Planar Corp. exchanged 100,000 shares of its $40 par value common stock for all of the net assets of Sistrock Co. The net assets of Sistrock meet the definition of a business. The fair value of Planar's common stock on August 31 was $85 per share. Planar paid a fee of $183,000 to the consultant who arranged this acquisition. Direct costs of registering and issuing the equity securities amounted to $57,000. No goodwill or bargain purchase was involved in the acquisition. At what amount should Planar record the acquisition of Sistrock's net assets?

Reference no: EM132652659

Questions Cloud

Establishing security culture : Review the section on Establishing a Security Culture. Review the methods to reduce the chances of a cyber threat noted in the textbook.

Explain difference between likelihood and probability : Explain the difference between likelihood and probability. Describe the change in the time complexity of K-means as the number of clusters to be found increases

What is the amount of goodwill resulting from the business : Neal Co. issued 100,000 shares of its $10 par value common stock in exchange for all of Frey, What is the amount of goodwill resulting from the business

Cluster of objects from binary transaction data set : Consider the mean of a cluster of objects from a binary transaction data set. What are the minimum and maximum values of the components of the mean?

At what amount should Planar record the acquisition : No goodwill or bargain purchase was involved in the acquisition. At what amount should Planar record the acquisition of Sistrock's net assets

Identify the weaknesses in the wage system : Identify the weaknesses in the wage system described above and recommend improvements for each weakness identified

Describe the audit procedures you would perform : The company operates its business from one large store in Bloemfontein. Describe the audit procedures you would perform to verify inventory account balance

How much is zakat paid and the method to compute zakat : You have to make a comparative analysis between two set of islamic bank financial statements. How much is zakat paid and the method to compute zakat

Significant impact on digital forensics : Describe the plain view doctrine, and why it has such a significant impact on digital forensics?

User Account

All Pages

At what amount should Planar record the acquisition

Reference no: EM132652659

Reference no: EM132652659

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT