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The Financial Statements for Jode Inc

question 11

Essay

The financial statements for Jode Inc. and Lakely Corp., just prior to their combination, for the year ending December 31, 2012, follow. Lakely's buildings were undervalued on its financial records by $60,000. The financial statements for Jode Inc. and Lakely Corp., just prior to their combination, for the year ending December 31, 2012, follow. Lakely's buildings were undervalued on its financial records by $60,000.    On December 31, 2012, 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, 2012.
On December 31, 2012, 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, 2012.


Definitions:

SA Node

The sinoatrial node, a group of cells in the right atrium of the heart that acts as the natural pacemaker by generating electrical impulses.

Coronary Arteries

Arteries that supply blood to the heart muscle itself, crucial for providing the necessary oxygen and nutrients for cardiac function.

Myocardium

The muscular tissue of the heart, responsible for the contracting action that pumps blood through the body.

Pacemaker

A device that delivers electrical impulses to the heart to regulate the heartbeat, used in cases of arrhythmia. Another reference is to specialized heart cells that naturally set the rhythm of the heart.

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