4. Beta Company acquired 100 percent of the voting common shares of Standard Video Corporation, its bitter rival, by issuing bonds with a par value and fair value of P150,000. Immediately prior to the acquisition, Beta reported total assets of P500,000, liabilities of P280,000, and stockholders' equity of P220,000. At that date. Standard Video reported total assets of P400,000, liabilities of P250,000, and stockholders' equity of P150,000. Included in Standard's liabilities was an account payable to Beta in the amount of P20,000, which Beta included in its accounts receivable. What amount of total assets is to be reported in the consolidated balance sheet immediately after acquisition?

4. Beta Company acquired 100 percent of the voting common shares of Standard Video Corporation, its bitter rival, by issuing bonds with a par value and fair value of P150,000. Immediately prior to the acquisition, Beta reported total assets of P500,000, liabilities of P280,000, and stockholders' equity of P220,000. At that date. Standard Video reported total assets of P400,000, liabilities of P250,000, and stockholders' equity of P150,000. Included in Standard's liabilities was an account payable to Beta in the amount of P20,000, which Beta included in its accounts receivable. What amount of total assets is to be reported in the consolidated balance sheet immediately after acquisition?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter20: Corporations: Distributions In Complete Liquidation And An Overview Of Reorganizations

Section: Chapter Questions

Problem 38P

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B Co acquired 100% of the voting common shares of SCo, by issuing bonds with a par value and fair value of $75,000. Immediately prior to the acquisition, B reported total assets of $250,000, liabilities of $140,000, and stockholders' equity of $110,000. At that date, S reported total assets of $200,000, liabilities of $125,000, and stockholders' equity of $75,000 Based on the preceding information, what amount of total assets did � report in its balance sheet immediately after the acquisition? Select one: a. 325,000 b. 450,000 c. 375,000 d. 250,000 Answer..
Prime Company acquired 100 percent of the voting common shares of Standard Video Corporation, its bitter rival, by issuing bonds with a par value and fair value of $150,000. Immediately prior to the acquisition, Prime reported total assets of $500,000, liabilities of $280,000, and stockholders' equity of $220,000. At that date, Standard Video reported total assets of $400,000, liabilities of $250,000, and stockholders' equity of $150,000. Included in Standard's liabilities was an account payable to Prime in the amount of $20,000, which Prime included in its accounts receivable. Based on the preceding information, what amount of total assets was reported in the consolidated balance sheet immediately after acquisition? Multiple Choice A. $880,000 B. $650,000 C. $920,000 D. $750,000
Prime Company acquired 100 percent of the voting common shares of Standard Video Corporation, its bitter rival, by issuing bonds with a par value and fair value of $150,000. Immediately prior to the acquisition, Prime reported total assets of $500,000, liabilities of $280,000, and stockholders' equity of $220,000. At that date, Standard Video reported total assets of $400,000, liabilities of $250,000, and stockholders' equity of $150,000. Included in Standard's liabilities was an account payable to Prime in the amount of $20,000, which Prime included in its accounts receivable. Based on the preceding information, what amount of total liabilities was reported in the consolidated balance sheet immediately after acquisition? Multiple Choice A. $280,000 B. $530,000 C. $660,000D. $500,000
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On 1/1/20x1, Petwoud Company exchanged 25,000 shares of its $1 par value common stock and $150,000 cash to acquire 80% of the outstanding voting common stock of Supagud, Inc. At the acquisition date, the fair value of Petwoud Company’s common stock was $20 per share. Petwoud’s payment includes a control premium of $15,000. Other investors, unrelated to Petwoud Company, hold the remaining 20% of the outstanding common stock of Supagud. After the acquisition, Supagud, Inc. will continue as a separate operating company. In its separate accounting records, Petwoud Company will apply the equity method to account for their investment in Supagud. The pre-acquisition trial balance for Supagud at 1/1/20x1 was: Cash 50,000 Accounts receivable 125,000 Other current assets 105,000 Buildings 510,000 Land 217,000 Accounts Payable 35,000 Long-term debt 300,000 Common stock 420,000 Retained earnings…
On January 1, 2021, ABC Co. acquired all of the identifiable assets and assumed all of the liabilities of XYZ, Inc. by issuing its own ordinary shares. Information at acquisition date is shown below: (see image below) Additional information: 1. ABC Co's share capital consists of 60,000 ordinary shares with par value of ₱40 per share. 2. XYZ's share capital consists of 3,000 ordinary shares with par value of ₱400 per share. 4. how much is the gain on acquisition or goodwill to be recognized? 5. what is the retained earnings of the combined entity immediately after the business combination?
On January 1, 2021, ABC Co. acquired all of the identifiable assets and assumed all of the liabilities of XYZ, Inc. by issuing its own ordinary shares. Information at acquisition date is shown below: (see image below) Additional information: 1. ABC Co's share capital consists of 60,000 ordinary shares with par value of ₱40 per share. 2. XYZ's share capital consists of 3,000 ordinary shares with par value of ₱400 per share. How much is the gain on acquisition or goodwill to be recognized?