The Financial Statements for Goodwin, Inc

question 66

Multiple Choice

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 retained earnings at December 31, 20X1.

• A) $2,800.
• B) $2,825.
• C) $2,850.
• D) $3,425.
• E) $3,450.

---

Definitions:

Younger Volunteers

Individuals of a younger age group who offer their time and services without financial compensation to support various causes and organizations.

Frederick Taylor's Theory

The principles of scientific management, proposed by Frederick Taylor, focusing on improving economic efficiency and labor productivity through systematic study and observation.

Procedures

Established methods or sequences of actions for performing activities or tasks systematically.

People Operating As Machines

The concept of individuals performing tasks in a mechanical or unthinking manner, often applied critically in discussions of labor and productivity.