Salem Co Had the Following Account Balances as of December 1

question 89

Essay

Salem Co. had the following account balances as of December 1, 2012:
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.
Determine the balance for Goodwill that would be included in a December 1, 2012, consolidation.

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Definitions:

Electronic Devices

Gadgets like smartphones, laptops, and tablets that operate on electrical power and digital information.

Supply of Labor

The total hours that workers in the economy are willing and able to work at a given wage rate.

Demand for Labor

The total amount of workers employers are willing and able to hire at a given wage rate in a certain period.

Unemployment

A situation where individuals who are willing and able to work cannot find a job.