Buy Solved ACCT 560 Week 4 Homework Assignment
Comprehensive Problem 17-53
Determine whether the following transactions qualify as Type C reorganizations:
- The acquisition of all assets and liabilities of Bark Inc. by Ark Inc. for 20 percent of Ark’s voting preferred stock.
- ……. Bark’s assets …….. needed.
- The..acquisition of all assets of Bark Inc. for $10 million of voting common stock, plus the assumption by Ark Inc. of $15 million of Bark’s liabilities.
- The acquisition of Bark’s assets for $8 million of Ark’s voting common, the assumption of $2 million of liabilities, and the payment by Ark of $100 in cash.
- The…acquisition of Bark’s assets for $50 million of voting, cumulative convertible preferred stock.
- Same as (e), except that the consideration consists of bonds convertible at any time into voting common stock.
Comprehensive Problem 17-54
Label the following transactions:
- A Nevada corporation formed a corporation in Florida and transferred all assets to it for 100 percent of its stock……. dissolved.
- ABC Corp. acquired all the stock of MNO Corp. for its convertible bonds……. dissolved.
- A corporation issues $30,000 worth of its own voting stock to retire some of its outstanding bonds with a principal amount of $40,000.
- Convertible preferred stock is converted into common stock of the issuing corporation.
- A corporation incorporates a division and distributes the shares received pro rata to its shareholders.
- A corporation distributes preferred stock for every 10 shares of common stock outstanding.
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