Question: Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 2018. The book value and fair value of W accounts on that...

1) Assume that Bullen paid a total of $480,000 in cash for all of the shares of Vicker. In addition, Bullen paid $35,000 for secretarial and management time allocated to the acquisition transaction. What will be the balance in consolidated goodwill? 

2) Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value for all of the outstanding stock of Vicker. What is the consolidated balance for Land as a result of this acquisition transaction? 

Question: Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 2018. The book value andfair value of W accounts on that date (prior to creating the combination) are as follows, along with thebook value of Bullen's accounts: Bullen Vicker Book VickerBook Value Value Fair Value Retained earnings, 1f1f20 $ 250,000 '5 240,000 Cash and receivables 1 70,000 70,000 $ 70,000Inventory 230,000 170,000 210,000Land 280,000 220,000 240,000Buildings (net) 480,000 240,000 270,000Equipment (net) 120,000 90,000 90,000Liabilities 650,000 430,000 420,000Common stock 360,000 80,000 Additional paid-in capital 20,000 40,000