The Financial Statements for Goodwin, Inc

question 61

Multiple Choice

The financial statements for Goodwin, Inc. and Corr Company for the year ended December 31, 2013, prior to Goodwin's acquisition business combination transaction regarding Corr, follow (in thousands) : On December 31, 2013, 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 common stock account at December 31, 2013.

• A) $1,080.
• B) $1,480.
• C) $1,380.
• D) $2,280.
• E) $2,680.

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Definitions:

Bronfenbrenner's Theory

A framework suggesting that an individual's development is affected by the interaction between their environment and various systemic layers, from immediate surroundings to broader societal influences.

Exosystem

A term from ecological systems theory referring to societal structures that do not directly contain the individual but still influence their experiences and development, such as parental workplaces.

Microsystem

The immediate environment a person operates in, including direct interactions with family, school, work, which influence one's development and behavior.

Multiple Choice Questions

A form of assessment where respondents are asked to select the correct answer(s) from several given options.