San Diego State University Operations And Supply Chain Management Assignment Help - Corporation

Question - The stockholders’ equities of Pal Corporation and Sip Corporation at January 1 were as follows (in
thousands):

On January 2, Pal issued 300,000 of its shares with a market value of $20 per share for all of Sip’s
shares, and Sip was dissolved. On the same day, Pal paid $10,000 to register and issue the shares
and $20,000 for other direct costs of combination.
REQUIRED: Prepare the stockholders’ equity section of Pal Corporation’s balance sheet immediately
after the acquisition on January 2. (Hint: Prepare the journalentry.)

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