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Tutorial   17224

Hoyt Corporation agreed to the following terms in order to acquire the net assets of Brown Company on January 1, 2011: (1.) To issue 400 shares of co...

Question:

 Hoyt Corporation agreed to the following terms in order to acquire the net assets of Brown Company on January 1, 2011:

(1.) To issue 400 shares of common stock ($10 par) with a fair value of $45 per share.

(2.) To assume Brown\'s liabilities which have a fair value of $1,500.

On the date of acquisition, the consideration transferred for Hoyt\'s acquisition of Brown would be

A.            $18,000.

B.            $16,500.

C.            $20,000.

D.            $18,500.

E.            $19,500.

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