Statement of financial position reflecting uniform accounting procedures, as well as fair values that are to be used as basis of the combination are prepared on September 1, 2020 as follows: Beryl Co. Caryl Company 1,800,000 Avril Co. 10,500,000 13,600,000 Assets Liabilities Capital stock; all P10 par Additional paid in capital Retained earnings (deficit) Total equities Avril company shares have a market value of P22 per share. Market values is not available for shares of Beryl Co. and Caryl Co. On September 1, 2020 Avril Co. acquires all of the assets and assumes the liabilities of Beryl Co. and Caryl Co. by issuing 400,000 shares of its stock to Beryl Company and 58,000 shares of its stock to Caryl Co. Avril Co pays P20,000 for registering and issuing securities and P40,000 for 7,900,000 1,060,000 5,300,000 2,400,000 3,400,000 550,000 280,000 1,000,000 (800,000) 4,900,000 10,500,000 13,600,000 (90,000 1,800,000 other acquisition costs of combination.
Statement of financial position reflecting uniform accounting procedures, as well as fair values that are to be used as basis of the combination are prepared on September 1, 2020 as follows: Beryl Co. Caryl Company 1,800,000 Avril Co. 10,500,000 13,600,000 Assets Liabilities Capital stock; all P10 par Additional paid in capital Retained earnings (deficit) Total equities Avril company shares have a market value of P22 per share. Market values is not available for shares of Beryl Co. and Caryl Co. On September 1, 2020 Avril Co. acquires all of the assets and assumes the liabilities of Beryl Co. and Caryl Co. by issuing 400,000 shares of its stock to Beryl Company and 58,000 shares of its stock to Caryl Co. Avril Co pays P20,000 for registering and issuing securities and P40,000 for 7,900,000 1,060,000 5,300,000 2,400,000 3,400,000 550,000 280,000 1,000,000 (800,000) 4,900,000 10,500,000 13,600,000 (90,000 1,800,000 other acquisition costs of combination.
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
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 7E: Multiple-Step and Single-Step Income Statements, and Statement of Comprehensive Income On December...
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