Please answer numbers 17 and 18. Thank you The book value of the interest acquired is:a. P77,000b. P110,000c. P81,900d. P105,10018. The stockholders' equity of Shell Company on its separate balancesheet is:P74,900b. P107,000c. P110,000d. P117,000a.с. uiuuLIO17. Petron Company acquired 70% of the outstanding shares of ShellCompany on January 1, 2020.The separate balance of Petron Company after the businesscombination and the consolidated balance sheet on the date ofacquisition are shown below. Of the price difference, P7,000 isallocated to undervalued fixed assets and the balance to goodwill.PetronConsolidated116,700270,00090,000146,000370,000Current AssetsFixed AssetsInvestment in Shell CompanyGoodwill8,100ТОTAL476,700524,100Current Liabilities15,70028,000350,000111,00035,100524,100Share Capital350,000111,000Share PremiumNCIТОТAL476,700

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Answered: U. c. P81,900 d. P105,100

Business

Accounting

U. c. P81,900 d. P105,100

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter20: Corporations: Distributions In Complete Liquidation And An Overview Of Reorganizations

Section: Chapter Questions

Problem 1BCRQ

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