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What amount did botkins record the investment in volkerson

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Reference no: EM133151401

Question - Prior to being united in a business combination, Botkins Inc. and Volkerson Corp. had the following stockholders' equity figures:

 

Botkins

Volkerson

Common stock ($1 par value)

$220,000

$54,000

Additional paid-in capital

110,000

25,000

Retained earnings

360,000

130,000

Botkins issued 56,000 new shares of its common stock valued at $4.00 per share for all of the outstanding stock of Volkerson.

Required - Assume that Botkins acquired Volkerson on January 1, 2017 and that Volkerson maintains a separate corporate existence. At what amount did Botkins record the investment in Volkerson?

Reference no: EM133151401

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