INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEWVi Spac.. Heading 1 Hes Font

Question

INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEWVi Spac.. Heading 1 Hes Font Paragraph Cash and receivables 23,000 15,000 30,000 100,000 95,000 Buikdings Accounts Payable Accumulated Depreciation Buildings 32000 Accurulated Depreciation-Equipment 30.000 Common Stock Additional Paid-In Capital 20,000 56.000 125,000 10. Based on the preceding information, what number of shares of $7 par value stock did Spin issue to Conservative? A. 10,000 B. 7,000 C. 8,000 D. 25,000 Answer: C 11. Based on the preceding information, what was Conservative's book value of assets transferred to Spin Company? A. $243,000 B. $263,000 C. $221,000 ENGLISH (UNITED STATES)

Explanation / Answer

Answer 10.

Value of Common Stock issued = $56,000
Par Value of Common Stock = $7

Number of Common Stock issued = Value of Common Stock issued / Par Value of Common Stock
Number of Common Stock issued = $56,000 / $7
Number of Common Stock issued = 8,000

Answer 11.

Book Value of Assets = Cash and Receivable + Inventory + Land + Building + Equipment
Book Value of Assets = $23,000 + $15,000 + $30,000 + $100,000 + $95,000
Book Value of Assets = $263,000

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