Question

On December 31, 2021, Campbell obtained a loan for $650 and used the proceeds, along with the transfer of 35 shares of its $10 par value common stock, in exchange for all of Newton’s common stock. At the time of the transaction, Campbell’s common stock had a fair value of $40 per share.In connection with the business combination, Campbell paid $25 to a broker for arranging the transaction and $30 in stock issuance costs. At the time of the transaction, Newton’s equipment was actually worth $1,450 but its buildings were only valued at $590.Compute the consolidated equipment (net) account at December 31, 2021.

Answer 1

The consolidated common stock account at December 31 is  $1,430

Using this formula

December 31 Consolidated common stock account=Common Stock + Stock Issued par value

Let plug in the formula

December 31 Consolidated common stock account=$1,080+($10 × 35 shares)

December 31 Consolidated common stock account= $1,080 + $350

December 31 Consolidated common stock account= $1,430

Inconclusion The consolidated common stock account at December 31 is  $1,430

Learn more about consolidated equipment (net) account here:

https://brainly.com/question/20327244