(Answered) On january 1 2013 newtune company exchanges 19336 shares of

Accounting

On January 1, 2013, NewTune Company exchanges 19,336 shares of its common stock for all of the outstanding shares of On-the-Go, Inc. Each of NewTune's shares has a $4 par value and a $50 fair value. The fair value of the stock exchanged in the acquisition was considered equal to On-the-Go's fair value. NewTune also paid $45,450 in stock registration and issuance costs in connection with the merger.

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