The Consolidation Entry at Date of Acquisition Will Include (Referring

question 26

Multiple Choice

The consolidation entry at date of acquisition will include (referring to Smith) :

• A) Debit Common stock $500,000 and debit Preferred stock $120,000.
• B) Debit Common stock $400,000 and debit Additional paid-in capital $160,000.
• C) Debit Common stock $500,000 and debit Preferred stock $300,000.
• D) Debit Common stock $500,000, debit Preferred stock $120,000, and debit Additional paid-in capital $200,000.
• E) Debit Common stock $400,000, debit Preferred stock $300,000, debit Additional paid-in capital $200,000, and debit Retained earnings $500,000.

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Definitions:

Carbon Atoms

The basic building blocks of the vast majority of organic compounds, capable of forming strong covalent bonds due to their tetravalency.

Hydrogen Atoms

The simplest type of atoms consisting of one proton and one electron, fundamental in chemistry and the building blocks of molecules.

Alkane Name

The systematic nomenclature assigned to alkanes based on the number of carbon atoms in their longest chain and specific rules.

Triacontane

A saturated hydrocarbon with a chemical formula of C30H62, commonly found in waxes.