. 3,690,000 B. 3,900,000 C. 2,805,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
A. 3,690,000
B. 3,900,000
C. 2,805,000
D. 4,332,000
![PPP Corporation issued ordinary share capital with a par value of P675,000 and a market value of P1,050,000 to
acquire the net asset of SSS Corp. in a business combination. Immediately before the business combination the
book and fair values of the net identifiable assets of PPP and SSS are as follows:
SSS
Book Value Book Value Fair Value
690,000
280,500
PPP
Assets
3,000,000
900,000
Liabilities
813,000
282,000
Determine the amount that should be reported as total assets of the combined entity immediately following the
business combination.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F81f3be56-6897-48ec-8f0c-19c9368031fa%2Fa4222115-d6af-4cf0-b707-0f0dd23b7d25%2Fyscruf9_processed.png&w=3840&q=75)
Transcribed Image Text:PPP Corporation issued ordinary share capital with a par value of P675,000 and a market value of P1,050,000 to
acquire the net asset of SSS Corp. in a business combination. Immediately before the business combination the
book and fair values of the net identifiable assets of PPP and SSS are as follows:
SSS
Book Value Book Value Fair Value
690,000
280,500
PPP
Assets
3,000,000
900,000
Liabilities
813,000
282,000
Determine the amount that should be reported as total assets of the combined entity immediately following the
business combination.
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