Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2017, in exchange for $6,059,500 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias’s stockholders’ equity was $2,045,000 including retained earnings of $1,545,000
Answer: C. No, because the federal rules permit service under the rules of the state in which service will be effected.
Explanation:
The case was filed in federal court so the rules regarding the service of the summons will be according to the rules of federal courts.
Rule 4 of the Federal Rules of Civil Procedure allows for the service of a summons to be based on the service rules of the state where the service is to be made. As the service was done in State A and State A allows service to be at defendant's place of business, proper procedure was followed and so the court will not dismiss the action.
Definitely by order of importance
Answer:
$28,560
Explanation:
Calculation for the carrying value of the note receivable on Park’s December 31, 2019, balance sheet
Using this formula
Carrying value of note receivable =Present value of the note +(Imputed interest rate ×Present value of the note )
Let plug in the formula
Carrying value of note receivable=$25,500+(12%×$25,500)
Carrying value of note receivable=$25,500+$3,060
Carrying value of note receivable=$28,560
Therefore the carrying value of the note receivable on Park’s December 31, 2019, balance sheet will be $28,560
