REFERENCE: Ref.03_12 Watkins,Inc.acquires All of the Outstanding Stock of Glen Corporation on Corporation

question 70

Multiple Choice

REFERENCE: Ref.03_12
Watkins,Inc.acquires all of the outstanding stock of Glen Corporation on January 1,2009.At that date,Glen owns only three assets and has no liabilities:
-If Watkins issued common stock valued at $410,000 for Glen,rather than paying cash,in a pooling of interests on June 15,1999,at what amount would the subsidiary's Equipment be represented in a December 31,2009,consolidation,assuming no acquisitions or disposals of buildings or equipment?

• A)$75,000.
• B)$77,400.
• C)$80,000.
• D)$82,100.
• E)$84,000.

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Definitions:

Ethnocentric Attitude

A viewpoint that one's own culture or ethnicity is more important or superior to others, often leading to biases in judgment and behavior.

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Staffing Activities

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