00% of the equity share capital of RRR Corp. was acquired by QQQ Corp. on June 30, 2021. QQQ Corp. issued 500,000 new ordinary shares with a par value of P1.0 and fair value of P8.0 each at the acquisition date. In addition, the acquisition resulted in QQQ Corp. incurring fees payable to external advisers of P200,000 and share issue costs of P180,000. In accordance with PFRS 3, goodwill at acquisition date is measured by subtracting the identifiable assets acquired and the liabilities assumed from:*... a. P 4.18 million b. P 4.20 million c. P 4.39 million d. P 4.00 million pls. answer it asap thank you

00% of the equity share capital of RRR Corp. was acquired by QQQ Corp. on June 30, 2021. QQQ Corp. issued 500,000 new ordinary shares with a par value of P1.0 and fair value of P8.0 each at the acquisition date. In addition, the acquisition resulted in QQQ Corp. incurring fees payable to external advisers of P200,000 and share issue costs of P180,000. In accordance with PFRS 3, goodwill at acquisition date is measured by subtracting the identifiable assets acquired and the liabilities assumed from:*... a. P 4.18 million b. P 4.20 million c. P 4.39 million d. P 4.00 million pls. answer it asap thank you

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter8: Consolidated Tax Returns

Section: Chapter Questions

Problem 36P

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On January 2, 2021 PAMIGAY CORP paid P380,000 cash and issued 120,000 new shares of its P5 par value common stock valued at P20 a share for all of SAYO CORP’s outstanding common shares in an acquisition. PAMIGAY CORP paid P15,000 for registering and issuing securities and P10,000 for other direct costs of the business combination. The fair value and book value of SAYO CORP’s identifiable assets and liabilities were the same. Summarized balance sheet information for both companies just before the acquisition on January 2, 2021 is as follows: PAMIGAY CORP SAYO CORP Cash P 1,150,000 P 120,000 Inventories 320,000 400,000 Other current assets 500,000 500,000 Land 350,000 250,000 PPE, net 2,500,000 1,400,000 Goodwill 500,000 100,000 Total Assets P 5,320,000 P 2,770,000 Accounts payable P1,000,000 P 300,000 Notes payable 1,300,000 660,000 Capital stock, P5 par 2,000,000 500,000…
On January 2, 2021 PAMIGAY CORP paid P380,000 cash and issued 120,000 new shares of its P5 par value common stock valued at P20 a share for all of SAYO CORP’s outstanding common shares in an acquisition. PAMIGAY CORP paid P15,000 for registering and issuing securities and P10,000 for other direct costs of the business combination. The fair value and book value of SAYO CORP’s identifiable assets and liabilities were the same. Summarized balance sheet information for both companies just before the acquisition on January 2, 2021 is as follows: PAMIGAY CORP SAYO CORP Cash P 1,150,000 P 120,000 Inventories 320,000 400,000 Other current assets 500,000 500,000 Land 350,000 250,000 PPE, net 2,500,000 1,400,000 Goodwill 500,000 100,000 Total Assets P 5,320,000 P 2,770,000 Accounts payable P1,000,000 P 300,000 Notes payable 1,300,000 660,000 Capital…
On January 2, 2021 PAMIGAY CORP paid P380,000 cash and issued 120,000 new shares of its P5 par value common stock valued at P20 a share for all of SAYO CORP’s outstanding common shares in an acquisition. PAMIGAY CORP paid P15,000 for registering and issuing securities and P10,000 for other direct costs of the business combination. The fair value and book value of SAYO CORP’s identifiable assets and liabilities were the same. Summarized balance sheet information for both companies just before the acquisition on January 2, 2021 is as follows: How much is the cash to be presented on the consolidated statement of financial position as of the date of acquisition? a. 1,150,000 b. 865,000 c. 1,245,000 d. 1,270,000
On January 2, 2021 PAMIGAY CORP paid P380,000 cash and issued 120,000 new shares of its P5 par value common stock valued at P20 a share for all of SAYO CORP’s outstanding common shares in an acquisition. PAMIGAY CORP paid P15,000 for registering and issuing securities and P10,000 for other direct costs of the business combination. The fair value and book value of SAYO CORP’s identifiable assets and liabilities were the same. Summarized balance sheet information for both companies just before the acquisition on January 2, 2021 is as follows: PAMIGAY CORP SAYO CORP Cash P 1,150,000 P 120,000 Inventories 320,000 400,000 Other current assets 500,000 500,000 Land 350,000 250,000 PPE, net 2,500,000 1,400,000 Goodwill 500,000 100,000 Total Assets P 5,320,000 P 2,770,000 Accounts payable P1,000,000 P 300,000 Notes payable 1,300,000 660,000 Capital stock, P5 par 2,000,000 500,000…
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