REFERENCE: Ref.02_06 The Financial Balances for the Atwood Company and the Franz

question 63

Multiple Choice

REFERENCE: Ref.02_06
The financial balances for the Atwood Company and the Franz Company as of December 31,20X1,are presented below.Also included are the fair values for Franz Company's net assets.
Note: Parenthesis indicate a credit balance
Assume a business combination took place at December 31,20X1.Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz.Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid.
-Compute consolidated land at the date of the business combination.

• A)$2,060.
• B)$1,800.
• C)$260.
• D)$2,050.
• E)$2,070.

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Definitions:

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An ideological stance advocating for the primacy of personal liberty against the constraints imposed by collective entities or governmental authority.

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A cultural value that emphasizes the importance of groups and collective action over individual achievement or identity.

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