On July 6, Jamona Corp. acquired the plant assets of Berry Company, which had discontinued operations. The

Question:

On July 6, Jamona Corp. acquired the plant assets of Berry Company, which had discontinued operations. The appraised value of the property is:
Land ............ $ 400,000
Building .......... 1,200,000
Machinery and equipment....     800,000
Total ............ $2,400,000
1. Jamona Corp. gave 12,500 shares of its $100 in exchange. The stock had a market value of $168 per share on the date of the purchase of the property.
2. Jamona Corp. expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building.
Repairs to building ................. $105,000
Construction of bases for machinery to be installed later ...    135,000
Driveways and parking lots ............... 122,000
Remodeling of office space in building .........   161,000
Special assessment by city on land ............ 18,000
3. On December 20, the company paid cash for machinery, $260,000, subject to a 2% cash discount, and freight on machinery of $10,500.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...