On December 31, 2022, Saxe Corp. was merged into Poe Corp. In the business combination, Poe issued 200,000 shares of its P10 par ordinary share, with a market price of P18 per share, for all of Saxe's common stock. The shareholders' equity section of each company's balance sheet immediately before the combination was shown below: Рое Saxe Ordinary share 1,500,000 3,000,000 Ordinary share premium 150,000 Retained earnings 1,300,000 2,500,000 850,000 6,800,000 2,500,000 Poe Corp. incurred the following costs related to the acquisition: Finder's fee - P20,000 and share issuance costs - P25,000. In the December 31, 2022 consolidated balance sheet, total equity should be reported at:
On December 31, 2022, Saxe Corp. was merged into Poe Corp. In the business combination, Poe issued 200,000 shares of its P10 par ordinary share, with a market price of P18 per share, for all of Saxe's common stock. The shareholders' equity section of each company's balance sheet immediately before the combination was shown below: Рое Saxe Ordinary share 1,500,000 3,000,000 Ordinary share premium 150,000 Retained earnings 1,300,000 2,500,000 850,000 6,800,000 2,500,000 Poe Corp. incurred the following costs related to the acquisition: Finder's fee - P20,000 and share issuance costs - P25,000. In the December 31, 2022 consolidated balance sheet, total equity should be reported at:
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 9EB: Vishnu Company is authorized to issue 500,000 shares of $2 par value common stock. In conjunction...
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