goodwill (income from acquisition) resulting from the business combination
SB Corp. is offered 200,000 shares of EX Corp. ordinary shares in exchange for its net assets at August 30, 2020. The acquirer shares had a market value of P11 per share on that date. The balance sheet of the two companies at the date of acquisition follow:
|
|
SB CORP |
EX CORP |
|
Total assets |
1,097,500 |
1,733,250 |
|
Liabilities |
1,097,500 |
383,250 |
|
Ordinary shares, par P1 |
800,000 |
25,000 |
|
|
(15,000) |
1,325,000 |
|
Total liabilities and |
1,097,500 |
1,733,250 |
The
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