13. Riverdale paid finder's fees ofP40,000, legal fees of P13,000, audit fees related to the stock issuance of P10,000, stock registration fees of P5,000, and stock listing application fees of P4,000. Based on the preceding information, under the acquisition method, what amount relating to the business combination would be expensed? a P19,000 b. P53,000 c. P63,000 d. P72,000 HAPTER 1: BUSINESS COMBINATION Page | 47 Refer to #13, which of the following is correct? a. Share issue cost of P9,000 is chargeable to expense. b. Direct cost of P53,000 is capitalized. c. Share issue costs of P19,000 is chargeable to expense. d. Share issue costs of P19,000 is debited to equity. e. None of the above.

13. Riverdale paid finder's fees ofP40,000, legal fees of P13,000, audit fees related to the stock issuance of P10,000, stock registration fees of P5,000, and stock listing application fees of P4,000. Based on the preceding information, under the acquisition method, what amount relating to the business combination would be expensed? a P19,000 b. P53,000 c. P63,000 d. P72,000 HAPTER 1: BUSINESS COMBINATION Page | 47 Refer to #13, which of the following is correct? a. Share issue cost of P9,000 is chargeable to expense. b. Direct cost of P53,000 is capitalized. c. Share issue costs of P19,000 is chargeable to expense. d. Share issue costs of P19,000 is debited to equity. e. None of the above.

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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