Solution-What number of shares was issued

What number of shares was issued

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Reference no: EM132909030

Problem - Punyain Company acquired Sallsap Corporation on January 1, 20x1, through an exchange of common shares. All of Sallsap's assets and liabilities were immediately transferred to Punyain, which reported total par value of shares outstanding of $218,400 and $387,400 and additional paid-in capital of $370,500 and $708,500 immediately before and after the business combination, respectively.

Required -

a. Assuming that Punyain's common stock had a market value of $30 per share at the time of exchange, what number of shares was issued?

b. What is the par value per share of Punyain's common stock?

c. Assuming that Sallsap's identifiable assets had a fair value of $477,700 and its liabilities had a fair value of $120,400, what amount of goodwill did Punyain record at the time of the business combination?

Reference no: EM132909030

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What number of shares was issued

Reference no: EM132909030

Reference no: EM132909030

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