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QUESTION
Prior to being united in a business combination, Botkins INc. and Volkerson Corp. had the following stockholders equity figures: Common STock ($1 par...
Prior to being united in a business combination, Botkins INc. and Volkerson Corp. had the following stockholders equity figures:Common STock ($1 par value): Botkin $220,000Volkerson $54,000APIC: Botkin $110,000 & Volkerson $25,000Retained Earnings: Botkins $360,000 & Volkerson $130,000Assume that Botkins acquired Volkerson on January 1, 2010. At what amount did Botkins record the investment in Volkerson?
