The Following Are Preliminary Financial Statements for Black Co

question 45

Essay

The following are preliminary financial statements for Black Co.and Blue Co.for the year ending December 31, 2018, prior to Black's acquisition of Blue Co.
On December 31, 2018 (subsequent to the preceding statements), Black exchanged 10,000 shares of its $10 par value common stock for all of the outstanding shares of Blue.Black's stock on that date has a fair value of $50 per share.Black was willing to issue 10,000 shares of stock because Blue's land was appraised at $204,000.Black also paid $14,000 to attorneys and accountants who assisted in creating this combination.
Required:
Assuming that these two companies retained their separate legal identities, prepare a consolidation worksheet as of December 31, 2018.

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Definitions:

Blood Pressure

The force exerted by circulating blood on the walls of the body's arteries, a vital sign indicating the health of the cardiovascular system.

Adaptive Response

The ability of an organism, individual, or system to modify or change its behavior in reaction to changes in its environment.

Wellbeing

Wellbeing encompasses the overall health, happiness, and prosperity of individuals, often considered a critical component of workplace productivity and satisfaction.

Sexual Harassment

Sexual harassment involves unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature.