Acct P2-12,19

Acct P2-12,19 - Common stock 460000 Additional PIC 695000...

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Andrew Townsend P2-12) Inventory 670000 Land 710000 930000 Franchise agreement 440000 Goodwill 80,000 Revenues 960000 Additional PIC 65000 Expenses 920000 RE 1/1 390000 P2-19) a) Fair Value of shares 750000 Cash 29000 Receivables 63000 Trademarks 225000 Record music catalog 180000 200000 Equipment 105000 A/P -34000 Notes payable -45000 723000 Goodwill 27000 Balance Sheet Assets Cash 64000 (60,000+29,000-25,000) Receivables 213000 Trademarks 625000 Record music catalog 1020000 200000 Equipment 425000 Goodwill 27000 Total 2574000 Liabilities and SE A/P 144000 Notes payable 415000
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Unformatted text preview: Common stock 460000 Additional PIC 695000 RE 860000 Total 2574000 b) Entry Consolidation NewTune On-the-Go Cash 64000 35000 29000 Receivables 213000 150000 63000 Trademarks 625000 400000 225000 Record music catalog 1020000 840000 180000 R&D 200,000 200000 Equipment 425000 320000 105000 Goodwill 27000 A/P 144000 110000 34000 Notes payable 415000 370000 45000 Common stock 460000 Additional PIC 690000 RE 860000 860000 c) The balance sheet amounts in parts a and b should be identical...
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This note was uploaded on 03/22/2010 for the course ACCT 450 taught by Professor Smith during the Spring '10 term at E. Illinois.

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Acct P2-12,19 - Common stock 460000 Additional PIC 695000...

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