Bullen Inc

question 97

Multiple Choice

Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 2013. The book value and fair value of Vicker's accounts on that date (prior to creating the combination) follow, along with the book value of Bullen's accounts: Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $42 fair value for all of the outstanding shares of Vicker. What will be the consolidated Additional Paid-In Capital and Retained Earnings (January 1, 2013 balances) as a result of this acquisition transaction?

• A) $60,000 and $490,000.
• B) $60,000 and $250,000.
• C) $380,000 and $250,000.
• D) $464,000 and $250,000.
• E) $464,000 and $420,000.

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