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The following balances were taken from the trial balance of CARDO Company and ALLANA Company at the start of the fiscal year 2018: CARDO Co ALLANA Co Fair Value Book Value P3,000,000 P3,000,000 200,000 150,000 5,000,000 650,000 4,000,000 3,000,000 1,800,000- 200,000 Book Value Cash Accounts rec. Inventory PPE (10years) Goodwill Accounts pay. Ordinary shares APIC Accumulated earnings P750,000 100,000 50,000 2,000,000 100,000 1,500,000 750,000 500,000 250,000 Fair Value P750,000 90,000 40,000 2,100,000 80,000- 1,450,000 215,000 140,000 5,300,000 700,000 4,200,000

The following balances were taken from the trial balance of CARDO Company and ALLANA Company at the start of the fiscal year 2018: CARDO Co ALLANA Co Fair Value Book Value P3,000,000 P3,000,000 200,000 150,000 5,000,000 650,000 4,000,000 3,000,000 1,800,000- 200,000 Book Value Cash Accounts rec. Inventory PPE (10years) Goodwill Accounts pay. Ordinary shares APIC Accumulated earnings P750,000 100,000 50,000 2,000,000 100,000 1,500,000 750,000 500,000 250,000 Fair Value P750,000 90,000 40,000 2,100,000 80,000- 1,450,000 215,000 140,000 5,300,000 700,000 4,200,000

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 5MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at...
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Cardo co purchases the net assets of allana co by issuing 50000 shares of their 20 par value shares with a fair value of 40 per share , pays 100000 cash, and payin direct and indirect cost of 75000 and 50000 respectively, determine the total amount of assets to be reported by Cardo Co. after the acquisition

The following balances were taken from the trial balance of CARDO Company and ALLANA Company at the start of the fiscal year 2018: CARDO Co ALLANA Co Book Value P3,000,000 P3,000,000 200,000 150,000 5,000,000 650,000 4,000,000 3,000,000 1,800,000- 200,000 Fair Value Book Value P750,000 100,000 Fair Value P750,000 90,000 Cash 215,000 140,000 5,300,000 700,000 4,200,000 Accounts rec. Inventory PPE (10years) Goodwill Accounts pay. Ordinary shares 50,000 2,000,000 100,000 1,500,000 750,000 500,000 250,000 40,000 2,100,000 80,000 - 1,450,000 APIC Accumulated earnings 25
Transcribed Image Text:The following balances were taken from the trial balance of CARDO Company and ALLANA Company at the start of the fiscal year 2018: CARDO Co ALLANA Co Book Value P3,000,000 P3,000,000 200,000 150,000 5,000,000 650,000 4,000,000 3,000,000 1,800,000- 200,000 Fair Value Book Value P750,000 100,000 Fair Value P750,000 90,000 Cash 215,000 140,000 5,300,000 700,000 4,200,000 Accounts rec. Inventory PPE (10years) Goodwill Accounts pay. Ordinary shares 50,000 2,000,000 100,000 1,500,000 750,000 500,000 250,000 40,000 2,100,000 80,000 - 1,450,000 APIC Accumulated earnings 25
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