1. Business
  2. Accounting
  3. options 920 320 960 1000...

Question: options 920 320 960 1000...

Question details

2 Required information On January 1, 2018, the Moody Company entered into a transaction for 100% of the outstanding common stock of Osorio Company. To acquire these shares, Moody issued $400 in long-term liabilities and also issued 40 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Moody paid $20 to lawyers, accountants, and brokers for assistance in bringing about this acquisition. Another $15 was paid in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows Part 1 of 2 00:06:01 Moody Cash Receivables Inventories Land Buildings (net) Equipment (net) Accounts payable Long-term liabilities Common stock ($1 par) Common stock ($20 par) Additional paid-in capital 810 1,08e 600 1,260 480 (450) (1,29e) (330) Osorio $1804e 180 280 360 440 10e (400) (240) (348) (1,e80) Long-term 11a011ities Common stock ($1 par) Common stock ($20 par) Additional paid-in capital Retained earnings (330) (1,ese) (1,26e) (240) (340) (340) Part 1 of2 Note: Parentheses indicate a credit balance In Moodys appraisal of Osorio, three assets were deemed to be undervalued on the subsidiarys books: Inventory by $10, Land by $40, and Buildings by $60 00:05:41 Compute the amount of consolidated land at date of acquisition

Options:

920

320

960

1000

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