Flynn acquires 100 percent of the outstanding võting shares, Flynn pays $400 cash (in thousands) and issues 10,000 shares of $20 par value common stock on this date Elyon's stock had a fair value of $36 per share on that date. Flynn also pays $15 (in thousands) to a local investment firm for arranging the ecquisition. An additional $10 (in thousands) was paid by Flynn in stock issuance costs. The book values for both Flynn and Macek immediately preceding the acquisition follow. The fair value of each of Flynn and Macek accounts is also included. In addition, Macek holds a fully amortized trademark that still retains a $40 (in thousands) value. The figures below are in thousands. Any related question also is in thousands. Macek Company Flynn, Вook Fair Inc Value Value 24 900 $ 80 $ 80 Cash 480 180 160 Receivables 660 260 300 Inventory Land 300 120 130 Buildings (net) 1,200 220 280 360 100 75 Equipment Accounts payable 480 60 1,140 1,000 200 340 300 Long-term liabilities 80 Common stock Additional paid-in capital Retained earnings 1,080 480 What amount will be reported for goodwill as a result of this acquisition? OOO 000

Flynn acquires 100 percent of the outstanding võting shares, Flynn pays $400 cash (in thousands) and issues 10,000 shares of $20 par value common stock on this date Elyon's stock had a fair value of $36 per share on that date. Flynn also pays $15 (in thousands) to a local investment firm for arranging the ecquisition. An additional $10 (in thousands) was paid by Flynn in stock issuance costs. The book values for both Flynn and Macek immediately preceding the acquisition follow. The fair value of each of Flynn and Macek accounts is also included. In addition, Macek holds a fully amortized trademark that still retains a $40 (in thousands) value. The figures below are in thousands. Any related question also is in thousands. Macek Company Flynn, Вook Fair Inc Value Value 24 900 $ 80 $ 80 Cash 480 180 160 Receivables 660 260 300 Inventory Land 300 120 130 Buildings (net) 1,200 220 280 360 100 75 Equipment Accounts payable 480 60 1,140 1,000 200 340 300 Long-term liabilities 80 Common stock Additional paid-in capital Retained earnings 1,080 480 What amount will be reported for goodwill as a result of this acquisition? OOO 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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