Required information The following information applies to the questions displayed below 10 points On July 1, TruData Company issues 12,800 shares of its common stock with a $5 par value and a $35 fair value in exchange for all of Webstat Company\'s outstanding voting shares. Webstat\'s precombination book and fair values are shown below along with book values for TruData\'s accounts 03:46:47 Webstat Book Values Book Values Fair Values TruData Webstat Revenues (1/1 to 7/1 Expenses (1/1 to 7/1) Retained earnings, 1/1 Cash and receivables Inventory Patented technology (net) Land Buildinga and equipment (net) LLabilities Common stock Additional paid-in capital (154,000) 70,000 Skipped (314,600) 166, 000 (120,000) 196, 00 180, 000 246, 000 16,00 80,000 534,000) (306, 000) 150,000) 148,000 194,000 206,000 80,000 360,000) (66,000) (30,000) 62,000 62, 000 180,000 202,000 228, 000 80, 000 340,000) eBook (9,400) On its acquisition-date consolidated balance sheet, what amount should TruData report as patented technology (net)?
Answer is $448,000
Patented technology - TruValue - $246,000
- Webcast (fair value) - $202,000
Balance in the consolidated balance sheet - $448,000
Homework Sourse
