Salem Co. had the following account balances as of December 1, 2010:
Bellington Inc. transferred $1.7 million in cash and 12,000 shares of its newly issued $30 par value common stock (valued at $90 per share) to acquire all of Salem's outstanding common stock.
Assume that Bellington paid cash of $2.8 million. No stock is issued. An additional $50,000 is paid in direct combination costs.
Required:
For Goodwill, determine what balance would be included in a December 1, 2010 consolidation.
Definitions:
Antigen Processing
The process by which proteins are broken down into peptides that can be presented on the surface of cells by major histocompatibility complex molecules.
MHC Molecule
Major Histocompatibility Complex molecules are proteins found on cell surfaces, crucial for immune system recognition of foreign molecules.
Pathogen Invasion
The process by which pathogenic microorganisms enter and spread in a host organism, leading to infection and potential disease.
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