The Financial Statements for Jode Inc

question 81

Essay

The financial statements for Jode Inc. and Lakely Corp., just prior to their combination, for the year ending December 31, 2010, follow. Lakely's buildings were undervalued on its financial records by $60,000.

On December 31, 2010, Jode issued 54,000 new shares of its $10 par value stock in exchange for all the outstanding shares of Lakely. Jode's shares had a fair value on that date of $35 per share. Jode paid $34,000 to an investment bank for assisting in the arrangements. Jode also paid $24,000 in stock issuance costs to effect the acquisition of Lakely. Lakely will retain its incorporation.
Required:
Determine consolidated net income for the year ended December 31, 2010.

Understand the importance and principles of confidentiality and privacy in social work.

Recognize the ethical obligations in managing conflicts of interest between personal and professional responsibilities.

Identify the significance of consulting with colleagues for professional competence and client service improvement.

Learn the duty to protect and its implications as highlighted in Tarasoff v. The Regents of the University of California.

---

Definitions:

Further

Usually means additional to what already exists or has been mentioned, or to a greater extent.

Walk

To move at a regular pace by lifting and setting down each foot in turn, never having both feet off the ground at once.

Explore

To investigate, study, or analyze with the purpose of discovering more information.

Camouflaged Verbs

Verbs that are transformed into nouns or adjectives, often making sentences more complicated and harder to understand.