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.
Determine consolidated Additional paid-in Capital at December 31, 2010.
Definitions:
Timing
The selection of the most appropriate or opportune moment to perform an action or make a decision, affecting its success or outcome.
Chronemics
The study of how time is perceived, structured, and used in various cultures, and its effect on communication and behavior.
Interpersonal Communication
The process of exchange of information, feelings, and meaning between two or more people through verbal and/or non-verbal methods.
Self-Correcting Mechanism
A process through which a system naturally adjusts and corrects its course without external intervention, aiming to maintain equilibrium or improve function.
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