View the step-by-step solution to:


This question was created from CH2 problems(2).docx


How do you do this


12. The following are preliminary,T financial statements for Green Co. and Gold Co. for the year ending December 31, 2018 prior to Green’s acquisition of Gold.
Green Co. Gold Co. Sales $360,000 $228,000
Expenses 12.4.0399; 11323110;
Net income m i Q 95 000
Retained earnings, January 1, 2018 $480,000 $252,000
Net income (from above) 120,000 96,000
Dividends declared m —[1—
Retained earnings, December 31, 2018 m m 0 0
Current assets $350,000 $120,000
Land 120,000 108,000
Building (net) m m
Total assets m m a a
Liabilities $108,000 $132,000
Common stock 192,000 22,000
Additional paid—in capital 88,000 12,000
Retained earnings, December 31, 2018 564.000 348 000 Total liabilities and stockholders’ equity,T m M
Q 2

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Let our 24/7 Math - Other tutors help you get unstuck! Ask your first question.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes
A+ icon
Ask Expert Tutors