Business, 10.04.2020 22:55, jaylennkatrina929
On January 1, Chester. inc. acquires 100% of Festus 100,000 shares of Chester's Si par value common cash. Chester also incurred direct combination co Festus Corp.'s outstanding common stock by issuing mmon voting stock. In addition, Chester paid $1,800,000 in on costs of $350,000 and stock issuance costs of $650,000. On January 1, Chester's voting common stock common shares were selling for $12.50 per share. Fes acquisition are listed below. had a market value of $38.50 per share. Festus' voting per share. Festus' balances on the acquisition date, just prior to Cash Receivables Inventory Land Building (net) Equipment (net) Payables Common Stock, $1 par value Paid-In Capital RE(January 1) BV. $ 530,000 $ 610,000 400,000 600,000 500,000 375,000 (280,000) (1,800,000) (660,000) (275,000) F. V. 530,000 650,000 400,000 700,000 580,000 300,000 (280,000) (2,250,000) Required: A. Using the Acquisition Method, compute the value of Chester's investment account on the date of acquisition, January 1.
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On January 1, Chester. inc. acquires 100% of Festus 100,000 shares of Chester's Si par value common...
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