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Question 1 (A)|25 Mks)] On January 2, 2014 Tennessce Corporation issued 100,000 new shares valued at $19 a share for all of Alaska Company's Tennessee paid $15,000 for registering and issuing securities business combination. The fair value and book value of Alaskas the same. Summarized anuary 2, 2014 is as follows sheet information for both companies jus hefore the scquisition on January 2, 2014 is as follows: of ts 55 par value common stock and $10,000 for other direct costs of the identifiable assets and liabilities were Alaska Cash Inventories Other current assets Land Plant assets-net Total Assets s 120,000 400,000 s 150,000 320,000 00,000 500,000250000 1,500,000 $2.770,000 350,000 55,320,000 Accounts payable Notes payable Capital stock, $5 par Paid-in capital Retained Earnings Total Liabilities &Equities 1,000,000 $ 300,000 660,000 1,000,000 1,210,000 Reguired: Prepre a balance sheet for Tennessee Corporation immediately after the business combination Question 1 (A)|25 Mks)] On January 2, 2014 Tennessce Corporation issued 100,000 new shares valued at $19 a share for all of Alaska Company's Tennessee paid $15,000 for registering and issuing securities business combination. The fair value and book value of Alaskas the same. Summarized anuary 2, 2014 is as follows sheet information for both companies jus hefore the scquisition on January 2, 2014 is as follows: of ts 55 par value common stock and $10,000 for other direct costs of the identifiable assets and liabilities were Alaska Cash Inventories Other current assets Land Plant assets-net Total Assets s 120,000 400,000 s 150,000 320,000 00,000 500,000250000 1,500,000 $2.770,000 350,000 55,320,000 Accounts payable Notes payable Capital stock, $5 par Paid-in capital Retained Earnings Total Liabilities &Equities 1,000,000 $ 300,000 660,000 1,000,000 1,210,000 Reguired: Prepre a balance sheet for Tennessee Corporation immediately after the business combination

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