The following balances were taken from the trial balance of CARDO Company and SYANO Company at the start of the fiscal year 20x7: CARDO COMPANY Book Value Fair Value Book Value Fair Value Cash Accounts Payable P500,000 250,000 155,000 600,000 P500,000 240,000 Mortgage Payable 200,000 Ordinary Shares 520,000 Retained Earnings P450,000 200,000 P440,000 Accounts Receivable 220,000 Inventory Fixed Assets (Net) 595,000 260,000 SYANO COMPANY Book Value Fair Value Book Value Fair Value Accounts Payable P350,000 200,000 250,000 175,000 Cash P300,000 150,000 125,000 400,000 P300,000 160,000 Mortgage Payable 100,000 Ordinary Shares 420,000 Retained Earnings P340,000 220,000 Accounts Receivable Inventory Fixed Assets (Net)
The following balances were taken from the trial balance of CARDO Company and SYANO Company at the start of the fiscal year 20x7: CARDO COMPANY Book Value Fair Value Book Value Fair Value Cash Accounts Payable P500,000 250,000 155,000 600,000 P500,000 240,000 Mortgage Payable 200,000 Ordinary Shares 520,000 Retained Earnings P450,000 200,000 P440,000 Accounts Receivable 220,000 Inventory Fixed Assets (Net) 595,000 260,000 SYANO COMPANY Book Value Fair Value Book Value Fair Value Accounts Payable P350,000 200,000 250,000 175,000 Cash P300,000 150,000 125,000 400,000 P300,000 160,000 Mortgage Payable 100,000 Ordinary Shares 420,000 Retained Earnings P340,000 220,000 Accounts Receivable Inventory Fixed Assets (Net)
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 30BEB: Klynveld Companys balance sheet shows total liabilities of 94,000,000, total stockholders equity of...
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From the data given, compute the
If CARDO Co purchases the net assets of SYANO Co by issuing 5,000 shares of their P10 par value shares with a fair value of P20 per share, entered into a mortgage loan of P290,000 and paying direct cost and stock issue cost of P50,000 and P20,000 respectively, a P25,000 direct cost and a P50,000 indirect cost however remain unpaid.
Compute for the consolidated total liabilities at the date of acquisition.
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