A. 3,690,000B. 3,900,000C. 2,805,000D. 4,332,000 PPP Corporation issued ordinary share capital with a par value of P675,000 and a market value of P1,050,000 toacquire the net asset of SSS Corp. in a business combination. Immediately before the business combination thebook and fair values of the net identifiable assets of PPP and SSS are as follows:SSSBook Value Book Value Fair Value690,000280,500PPPAssets3,000,000900,000Liabilities813,000282,000Determine the amount that should be reported as total assets of the combined entity immediately following thebusiness combination.

Name: A. 3,690,000B. 3,900,000C. 2,805,000D. 4,332,000 PPP Corporation issue
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Description: A. 3,690,000B. 3,900,000C. 2,805,000D. 4,332,000 PPP Corporation issued ordinary share capital with a par value of P675,000 and a market value of P1,050,000 toacquire the net asset of SSS Corp. in a business combination. Immediately before the busine

When a company is acquired by another company, it takes over its assets and liabilities at fair…

Answered: . 3,690,000 B. 3,900,000 C. 2,805,000

Business

Accounting

. 3,690,000 B. 3,900,000 C. 2,805,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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