Solution-What amount should Pine record in total

What amount should Pine record in total

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Question - On August 31 of the current year, Pine Corp. issued 100,000 shares of its $20 par value common stock for all of the net assets of SAP, Inc. The collection of assets and liabilities acquired do not meet the definition of a business under ASC 805. The fair value of Pine's common stock on the acquisition date was $76 per share. Pine paid a fee of $208,000 to the consultant who arranged this acquisition. Costs of registering and issuing the equity securities amounted to $148,000. What amount should Pine record in total for the net assets acquired?

Reference no: EM132652633

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What amount should Pine record in total

Reference no: EM132652633

Reference no: EM132652633

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