SM Prime Holdings Corporation acquired the assets (except for cash) and assumed the liabilities of Robinson Land Corporation on January 1, 2021. As compensation, SM Prime Holdings Company gave 35,000 shares of its common stock, 15,000 shares of its 10% preferred stock, and cash of $40,000 to the stockholders of Robinson Land Corporation.

On the acquisition date, SM Prime Holdings Corporation stock had the following characteristics:

Common Stock, par value $10 per share, fair value $25 per share

Preferred Stock, par value $100 per share, fair value $100 per share

A due diligence procedure was conducted prior to the acquisition of Robinson Land Corporation by SM Prime Holdings Corporation.

	Book Value
Cash	165,000.00
Accounts Receivable (Net of $22,000 Allowance)	320,000.00
Inventory - LIFO Cost	275,000.00
Land	406,000.00
Building & Equipment Net	1,144,000.00
Total Assets	2,310,000.00
Current Liabilities	275,000.00
Bonds Payable 10%	450,000.00
Common Stock, $5 par value	770,000.00
Other Contributed Capital	506,000.00
Retained Earnings	309,000.00
Total Liabilities & Stockholders' Equity	2,310,000.00

Further study reveals the fair market value for the following accounts: Accounts Receivable $315,000; Inventory $330,000; Land $556,000; Building & Equipment Net $1,148,000; Bonds Payable $496,000; Current Liabilities $275,000.

1. Allowance for Uncollectible Accounts credited upon acquisition.

2. Premium on Bonds Payable upon acquisition.

3. Amount of Goodwill to be recognized upon acquisition

4. Recorded value of Bond Payable upon acquisition

5. Other contributed capital upon acquisition to be recorded by SM Prime Holdings Corporation

6. Total value of current assets recorded by SM Prime Holdings for the acquisition of Robinson Land Corporation.