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The Alpha and Beta Companies had the following balance sheets on 1/1/2017: Alpha Beta Cash accts receivable inventory land equipment a/d equipment 250,000 400,000 300,000 400,000 500,000 50,000 50,000 60,000 100,000 300,000 40,000 10,000 total assets 1,800,000 540,000 accts payable 400,000 140,000 common stock (5 par) additional paid in capital retained earnings 200,000 800,000 400000 100,000 100,000 200000 On January 2nd Alpha acquired 80% of the stock of Beta by issuing 10,000 shares of its common stock. On January 2nd, Alpha's stock is selling for $ 90 per share The book value of Beta's assets and liabilities equaled fair market value except for: equipment fmv land fmv accts rec accts pay 40000 212,000 50 120 The Alpha and Beta Companies had the following balance sheets on 1/1/2017: Alpha Beta Cash accts receivable inventory land equipment a/d equipment 250,000 400,000 300,000 400,000 500,000 50,000 50,000 60,000 100,000 300,000 40,000 10,000 total assets 1,800,000 540,000 accts payable 400,000 140,000 common stock (5 par) additional paid in capital retained earnings 200,000 800,000 400000 100,000 100,000 200000 On January 2nd Alpha acquired 80% of the stock of Beta by issuing 10,000 shares of its common stock. On January 2nd, Alpha's stock is selling for $ 90 per share The book value of Beta's assets and liabilities equaled fair market value except for: equipment fmv land fmv accts rec accts pay 40000 212,000 50 120

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