Stockholders of Blue Spruce Company, Ayayai Company, and Concord Company are considering alternative arrangements for a business combination. Balance sheets and the fair values of each company's assets on October 1, 2024, were as follows: Assets Liabilities Common stock, $20 par value Other contributed capital Retained earnings (deficit) Total equities Fair values of assets Blue Spruce $3,889,010 $2,011,870 2,002,600 -0- (125,460) $3,889,010 $4,232,870 Ayayai $7,467,900 $2,214,750 1,805,680 605,100 2,842,370 $7,467,900 $9,005,400 Concord $958,240 $258,400 541,960 189,690 (31,810) $958,240 $1,306,200 Blue Spruce Company shares have a fair value of $51. A fair (market) price is not available for shares of the other companies because they are closely held. Fair values of liabilities equal book values.

Stockholders of Blue Spruce Company, Ayayai Company, and Concord Company are considering alternative arrangements for a business combination. Balance sheets and the fair values of each company's assets on October 1, 2024, were as follows: Assets Liabilities Common stock, $20 par value Other contributed capital Retained earnings (deficit) Total equities Fair values of assets Blue Spruce $3,889,010 $2,011,870 2,002,600 -0- (125,460) $3,889,010 $4,232,870 Ayayai $7,467,900 $2,214,750 1,805,680 605,100 2,842,370 $7,467,900 $9,005,400 Concord $958,240 $258,400 541,960 189,690 (31,810) $958,240 $1,306,200 Blue Spruce Company shares have a fair value of $51. A fair (market) price is not available for shares of the other companies because they are closely held. Fair values of liabilities equal book values.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

What are the problems caused by lack of integration? Expalin.
Using a service often results in possession and ownership. Select one: O a. True. X b. False.
did not fully awnser question
What is the formula used for the questions without using excel?
help please, the answers I put are not correct
Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Direct Labor Amount Date Amount $2,000 Dec 20 $4,000 8,000 Dec 30 3,800 Total Job Cost Sheet - Job No. 501 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800
What exactly are reversing entries, and why do they exist?
Briefly discuss the nature of Single entry and double entry system.
What is the answer to d e and f?
Types of gap and give example with interpretation.