If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will be issuing 30,000 shares to CARDO and 12,000 shares to SYANO. The following is the balance sheet of PROMDI Co, followed by the fair values and additional unpaid costs incurred by PROMDI in the acquisition:compute for the consolidated total assets at the date of acquisition PROMDI COMPANYProperty of and for the exclusive use of SLU. Repraduction, storing in a retrieval system, distributing, uploading or posting online, or transmiting in any form or by anymeans, electronic, mechanical, photocopying, recording, or othenwise of any part of this document, without the prior written permission of SLU, is stricity prohibited.2Fair Value體Book ValueFair ValueBook ValueP1,450,000 P1,440,000900,000600,0001,255,000CashP1,500,000 P1,500,000 Accounts Payable750,000355,0001,600,000Accounts Receivable920,000InventoryFixed Assets (Net)740,000 Mortgage Payable340,000 Ordinary Shares1,520,000 Retained EarningsPROMDICARDOSYANOFair value of shares30282540,00045,00050,000Direct costsIndirect costsStock issue costs50,00035,000155,000 The following balances were taken from the trial balance of CARDO Company and SYANO Company at thestart of the fiscal year 20x7:CARDO COMPANYBook ValueFair ValueBook ValueFair ValueCashAccounts ReceivableAccounts PayableP450,000200,000P500,000250,000155,000600,000P500,000240,000 Mortgage Payable200,000 Ordinary Shares520,000 Retained EarningsP440,000220,000LO595,000260,000InventoryFixed Assets (Net)SYANO COMPANYBook ValueFair ValueBook ValueFair ValueAccounts PayableP350,000200,000250,000175,000P340,000220,000CashP300,000150,000125,000400,000P300,000160,000 Mortgage Payable100,000 Ordinary Shares420,000 Retained EarningsAccounts ReceivableInventoryFixed Assets (Net)RS

If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will be issuing 30,000 shares to CARDO and 12,000 shares to SYANO. The following is the balance sheet of PROMDI Co, followed by the fair values and additional unpaid costs incurred by PROMDI in the acquisition: compute for the consolidated total assets at the date of acquisition

If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will be issuing 30,000 shares to CARDO and 12,000 shares to SYANO. The following is the balance sheet of PROMDI Co, followed by the fair values and additional unpaid costs incurred by PROMDI in the acquisition: compute for the consolidated total assets at the date of acquisition

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter8: Subprime Lending Fiasco-ethics Issues

Section: Chapter Questions

Problem 3.7EC

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