please answer this thank you On January 2, 2019, the Statement of Financial Position of Perry and Sassy Company prior to the combination are:Perry CompanySassy CompanyP900,000P30,000CashInventories600,00060,000Property and equipment (net)1,500,000210,000Total AssetsP3.000.000P300.000Current liabilities180,00030,000Ordinary share, P100 par300,00030,000Share premium900,00060,000Retained Earnings1,620,000180,000Total Liabilities and SHEP3.000.000P300.000The fair value of Sassy Company's equipment is P306,000Assume the following independent cases (No.48 and 49):48. Assuming Perry Company acquired 80% of the outstanding ordinary share of Sassy Company for P273,600 excluding controlpremium of P36,000. Non-controlling interest is measured at fair value, how much is the total consolidated assets on the dateof acquisition?a.3,412,800c. 3,073,200d. 3,103,200b. 3,139,20049. Assuming Perry Company acquired 90% of the outstanding shares of Sassy Company for P312,000 including controlpremium of P72,000 and non-controlling interest is measured at fair value, how much is the total consolidated stockholdersequity on the date of acquisition?a. 2,837,400c. 2,820,000d. 3,090,000b. 2,874,000

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48. Assuming Perry Company acquired 80% of the outstanding ordinary share of Sassy Company for P273,600 excluding control premium of P36,000. Non-controlling interest is measured at fair value, how much is the total consolidated assets on the date of acquisition?

48. Assuming Perry Company acquired 80% of the outstanding ordinary share of Sassy Company for P273,600 excluding control premium of P36,000. Non-controlling interest is measured at fair value, how much is the total consolidated assets on the date of acquisition?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 18E

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