Figure: The Financial Balances for the Atwood Company and the Franz

question 74

Multiple Choice

Figure:
The financial balances for the Atwood Company and the Franz Company as of December 31, 20X1, are presented below. Also included are the fair values for Franz Company's net assets. Note: Parenthesis indicate a credit balance
Assume an acquisition business combination took place at December 31, 20X1. Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz. Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid.
-Compute consolidated revenues at the date of the acquisition.

• A) $3,540.
• B) $2,880.
• C) $1,170.
• D) $1,650.
• E) $4,050.

Understand the importance of utilizing school resources and services for academic and personal support.

Recognize the significance of financial literacy and management for college students.

Realize the value of building diverse relationships for personal and career development.

Identify the steps to effectively manage and use technology for academic success.

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Definitions:

Numerical Amount

A quantity or value expressed in numbers.

Written Amount

The value of a document or instrument stated in words.

Five And 62/100

A manner to express the numeric value 5.62, often found in financial documents.

Cash Money

Physical money in the form of banknotes and coins, as opposed to electronic or digital forms of currency.