Sep 27, 2017 term paper 2

JOURNAL ENTRIES TO RECORD A BUSINESS COMBINATION ON JANUARY 1, 20X2, FROST COMPANY ACQUIRED ALL OF

This paper concentrates on the primary theme of JOURNAL ENTRIES TO RECORD A BUSINESS COMBINATION ON JANUARY 1, 20X2, FROST COMPANY ACQUIRED ALL OF in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

Journal Entries to Record a Business Combination

On January 1, 20X2, Frost Company acquired all of TKK Corporation’s assets and liabilities by issuing 24,000 shares of its $4 par value common stock. At that date, Frost shares were selling at $22 per share. Historical cost and fair value balance sheet data for TKK at the time of acquisition were as follows:


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Balance Sheet Item

Historical Cost

Fair Value

Cash & Receivables

$ 28,000

$ 28,000

Inventory

94,000


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