On January 1, Chester. inc. acquires 100% of Festus 100,000 shares of Chester's Si par value common cash. Chester also incurred direct combination co Festus Corp.'s outstanding common stock by issuing mmon voting stock. In addition, Chester paid $1,800,000 in on costs of $350,000 and stock issuance costs of $650,000. On January 1, Chester's voting common stock common shares were selling for $12.50 per share. Fes acquisition are listed below. had a market value of $38.50 per share. Festus' voting per share. Festus' balances on the acquisition date, just prior to Cash Receivables Inventory Land Building (net) Equipment (net) Payables Common Stock, $1 par value Paid-In Capital RE(January 1) BV. $ 530,000 $ 610,000 400,000 600,000 500,000 375,000 (280,000) (1,800,000) (660,000) (275,000) F. V. 530,000 650,000 400,000 700,000 580,000 300,000 (280,000) (2,250,000) Required: A. Using the Acquisition Method, compute the value of Chester's investment account on the date of acquisition, January 1.

On january 1, 2018, red flash photography had the following balances: cash, $19,000; supplies, $8,700; land, $67,000; deferred revenue, $5,700; common stock $57,000; and retained earnings, $32,000. during 2018, the company had the following transactions: 1. february 15 issue additional shares of common stock, $27,000. 2. may 20 provide services to customers for cash, $42,000, and on account, $37,000. 3. august 31 pay salaries to employees for work in 2018, $30,000. 4. october 1 purchase rental space for one year, $19,000. 5. november 17 purchase supplies on account, $29,000. 6. december 30 pay dividends, $2,700. the following information is available on december 31, 2018: 1. employees are owed an additional $4,700 in salaries. 2. three months of the rental space has expired. 3. supplies of $5,700 remain on hand. 4. all of the services associated with the beginning deferred revenue have been performed.required: 1. record the transactions that occurred during the year.2. record the adjusting entries at the end of the year.3. prepare an adjusted trial balance.4. prepare an income statement, statement of stockholders’ equity, and classified balance sheet.5. prepare closing entries.

cranium, inc., purchases term papers from an overseas supplier under a continuous review system. the average demand for a popular mode is 300 units a day with a standard deviation of 30 units a day. it costs $60 to process each order and there is a five−day lead−time. the holding cost for a paper is $0.25 per year and the company policy is to maintain a 98% service level. cranium operates 200 days per year.what is the reorder point r to satisfy a 98% cycleminus−service level? a. greater than 1,700 unitsb. greater than 1,600 units but less than or equal to 1,700 unitsc. greater than 1,500 units but less than or equal to 1,600 unitsd. less than or equal to 1,500 units

In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?