Figure: the Financial Statements for Goodwin, Inc., and Corr Company for for the Year

question 94

Multiple Choice

Figure:
The financial statements for Goodwin, Inc., and Corr Company for the year ended December 31, 20X1, prior to Goodwin's acquisition business combination transaction regarding Corr, follow (in thousands) : On December 31, 20X1, Goodwin issued $600 in debt and 30 shares of its $10 par value common stock to the owners of Corr to acquire all of the outstanding shares of that company. Goodwin shares had a fair value of $40 per share.
Goodwin paid $25 to a broker for arranging the transaction. Goodwin paid $35 in stock issuance costs. Corr's equipment was actually worth $1,400 but its buildings were only valued at $560.
-Compute the consolidated buildings (net) account at December 31, 20X1.

• A) $2,700.
• B) $3,370.
• C) $3,300.
• D) $3,260.
• E) $3,340.

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Definitions:

Riots

Violent disturbances of the peace by a crowd, often a protest against policies or actions.

Shared Focus

A situation where all members of a group concentrate their efforts and attention on a common objective or goal.

Disperse

To scatter or spread out from a common point to various directions, often referring to groups or particles.

Crowd

A large number of people gathered together, typically in a disorganized or unruly way.