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What is the reported amount of the common stock

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

Taunton

Common stock ($1 par value) $240,000

APIC: $120,000

Retained Earnings $370,000

Eubanks

Common stock ($1 par value) $640,000

APIC: $30,000

Retained Earnings $14,000

Taunton issued 62,000 new shares of its common stock valued at $2.75/share for all of the outstanding stock of Eubanks.

Assume that Taunton acquired Eubanks on 1/1/2020. Immediately afterwards what is the reported amount of the common stock?

Reference no: EM132872260

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