Atkins issues 72000 new shares of its common stock valued, Ask an Expert

Accounting

Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following stockholders' equity figures:

Atkins Waterson
Common stock ($1 par value) $201,000 $ 87,000
Additional paid-in capital 100,500 41,000
Retained earnings 310,000 174,750

Atkins issues 72,000 new shares of its common stock valued at $4 per share for all of the outstanding stock of Waterson. Immediately afterward, what are consolidated Additional Paid- In Capital and Retained Earnings, respectively?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947661

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