Shareholders in blackstone

Assignment Help Accounting Basics

Reference no: EM13137030

Greystoke, Inc. acquires the assets of Blackstone, Ltd. for its voting convertible preferred stock and assumes liabilities of $60,000. The assets have a basis of $250,000 and a value of $380,000. One of the shareholders in Blackstone trades her old shares with a basis of $3,000 for stock in Greystoke worth $3,200.

(a) What kind of reorganization took place?

(b) What is Greystoke's basis in the acquired assets?

(d) What would change, if, instead of assuming $60,000 of liabilities, this amount were paid in cash?

Reference no: EM13137030

Questions Cloud

Determine whether bill return-on-sales ratio has met : Bill's sales volume was 300,000 appliances with an average selling price of $500 and expenses totaling $90 million. Determine whether Bill's return-on-sales ratio has met the companywide target. Has Bill done a good or a poor job? Explain.

The australian curriculum : The Australian Curriculum, Assessment and Reporting Authority (ACARA) released the draft senior secondary Australian curriculum for the English, Mathematics, Science and History learning areas for national consultation from 10 May until 20 July 2012.

How many photons does laser emit in one minute : Small helium-neon lasers emit 4.62 mJ/s of light at 634 nm. How many photons does such a laser emit in one minute?

Analyze the company cash flow pattern : Based on the information provided in Exhibit 2, prepare the Company's Statements of Cash Flows for each of the two years ended on December 31, 2008 and 2009. You will need to make certain assumptions; make sure that you document each assumption.

Shareholders in blackstone : Greystoke, Inc. acquires the assets of Blackstone, Ltd. for its voting convertible preferred stock and assumes liabilities of $60,000. The assets have a basis of $250,000 and a value of $380,000. One of the shareholders in Blackstone trades her ol..

Discuss the definition of a worldview : please answer the following thoroughly. 1. Discuss the definition of a worldview and how a worldview is formed. 2. Compare and contrast each of the seven worldviews in this course with a biblical worldview.

Calculate the chi-square statistic : Calculate the chi-square statistic χ2 to determine if there is enough evidence to conclude that the number of minutes spent online per day is related to gender.

What was the real cause for their running out of cash : Why is it possible for a company to show a profit on their income statements and still go bankrupt? If you were looking at the financial statements of a company, how would you go about satisfying yourself that a company was not having cash flow pr..

Find the number of moles of water : find the number of moles of water that can be formed if you have 218 moles of hydrogen gas and 104 moles of oxygen gas

User Account

All Pages