Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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What is Evergreen's total stockholder's equity on these general accounting question?
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- Answer it as early as possible?arrow_forwardOn January 1, 2024 Palk Corp. and Spraz Corp. had condensed balance sheets as follows: Current assets Palk Corp. Spraz Corp. $ 99,000 $28,000 125,000 56,000 Noncurrent assets Total assets Current liabilities Long-term debt 224,000 84,000 42,000 14,000 70,000 70,000 Time left 3:54:49 Stockholders' equity 112,000 Total liabilities and stockholders' equity $224,000 $ 84,000 On January 1, 2024, Palk borrowed the entire $72,000 it needed to acquire 80% of the outstanding common shares of Spraz. Sha4res of Spraz are not actively traded on the market. The loan is to be paid in ten equal annual principal payments, plus interest, beginning December 31, 2024. The excess consideration transferred over the underlying book value of the acquired net assets was allocated 35% to inventory and 65% to goodwill. What is the amount attributable to consolidated noncurrent assets at January 1, 2024? O a. $196,000 O b. $181,000 Oc $223,000 Od. $218,500 O e. $194,000arrow_forwardMinnesota Manufacturing's balance sheet showed total common equity of $3,000,000 and 500,000 shares of stock outstanding on 12/31/2019. During 2020, the firm had $630,000 of net income, and it paid out $150,000 in dividends. What was the book value per share on 12/31/2020, assuming no common stock was issued or retired during 2020?arrow_forward
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