|Question 2:||A 100% stock acquisition of Sub Company by|
Parent Company (via Parent Stock Issues) would require which of the
|a)||DR - Investment in Sub Company|
|b)||CR - Investment in Sub Company|
|c)||DR - Common Stock|
|d)||None of the above|
|Sub Company Balance Sheet|
|Assets, Liabilities & Equities||Book Value||Assets, Liabilities & Equities||Book Value||Fair Value|
|Plant and Equipment||$600,000||Plant and Equipment||$400,000||$300,000|
|Less: Accumulated Depreciation||-$150,000||Less: Accumulated Depreciation||-$150,000|
|Total Assets||$980,000||Total Assets||$470,000||$650,000|
|Common Stock||$100,000||Common Stock||$100,000|
|Additional Paid In Capital||$560,000||Additional Paid In Capital||$60,000|
|Retained Earnings||$300,000||Retained Earnings||$270,000|
| Total Liabilities &|
|$980,000||Total Liabilities & Equity||$480,000|
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