ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of purchase differential recognized on the acquisition date consolidated balance sheet with respect to plant assets. *
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- ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of purchase differential recognized on the acquisition date consolidated balance sheet with respect to plant assets. *In good accounting form, please. Thank you!Here are the pre-acquisition balance sheets of POP Company and Sicle Company onDecember 31, 20x5:Pop Co. Sicle Co.Book Value Book Value Market ValuesCurrent assets P 5,000,000 P 2,000,000 P 1,500,000Investments 1,000,000 500,000 500,000Land 10,000,000 5,000,000 6,000,000Buildings (net) 40,000,000 25,000,000 16,000,000Equipment (net) 25,000,000 10,000,000 2,000,000Total assets P 81,000,000 P 42,500,000Current liabilities P 4,000,000 P 1,500,000 1,500,000Long-term liabilities 20,000,000 10,000,000 12,000,000Common stocks, P10par 5,000,000 1,000,000Additional paid-incapital 40,000,000 20,000,000Retained earnings 12,000,000 10,000,000Total liabilities &equity P 81,000,000 P 42,500,000In addition to the above Sicle Co. has identifiable tangibles with a fair value of P5,000,000not recognize on its book but appropriately capitalize by Pop.On January 1, 20x6 Pop issues 400,000 shares of its stock, with a par value of P10/share anda market value of 100/share, to acquire Sicle Company’s…1. S acquired 100 percent of F for P275,000. At the date of acquisition, F had the following book and market values: (see image below) What is the amount of the “Investment in F” account on S’s financial records at the acquisition date?
- 1. S acquired 100 percent of F for P275,000. At the date of acquisition, F had the following book and market values: (see image below) What is the amount of the “Investment in F” account on S’s financial records at the acquisition date? 2. What amount of pre-acquisition earnings is eliminated in the acquisition date worksheet elimination?If CARDO Co purchases the net assets of SYANO Co by issuing 5,000 shares of their P20 par valueshares with a fair value of P40 per share, incurs a mortgage loan for P90,000, pays P150,000 cash andpaying direct, indirect and stock issue costs of P75,000, P50,000 and P40,000 respective. REQUIREMENTS:A. GoodwillB. Consolidated Total Assets at the date of acquisitionOn 1/1/2020, X Company acquired 100% of Y Company's Net assets for $150,000 cash. The Book value of Y's Net assets was equal to the fair value of Y Company's net assets at the date of acquisition except for Land (included in fixed assets) its market value was less than the book value by $1,000, the balance sheet data at 1/1/2020, are as follows: item X co Y co cash 404,000 150,000 Fixed assets 100,000 66,000 Liabilities 144,000 72,000 Common stock 120,000 60,000 Retained earning 240,000 84,000 required: if the acquisition are merger record the journal entries and prepare x balance sheet after the merger
- ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of non-controlling interest on the acquisition date consolidated balance sheet? * Book Value P40,000 170,000 Market Value P40,000 230,000 700,000 Cash Inventory Plant Assets (net) Cost of Goods Sold 620,000 220,000| 60,000 Depreciation Expense Liabilities (300,000) (10,000) (450,000) (350,000) (300,000) Common Stock Retained Earnings Sales Your answerIf CARDO Co purchases the net assets of SYANO Co by issuing 5,000 shares of their P20 par valueshares with a fair value of P40 per share, incurs a mortgage loan for P90,000, pays P150,000 cash andpaying direct, indirect and stock issue costs of P75,000, P50,000 and P40,000 respective.REQUIREMENTS: Goodwill and Consolidated Total Assets at the date of acquisitionABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of non-controlling interest on the acquisition date consolidated balance sheet? In good accounting form, please. Thank you! <33
- Amazon acquired 100 percent of Ferries for P275,000. At the date of acquisition, Ferries had the following book and market values: (see information below) C purchases 80 percent of D. At the date of acquisition, D has revenue of P250,000 and expenses of P170,000. What amount of pre-acquisition earnings will be created on the consolidated income statement at the acquisition date? Book value Market value Cash and Receivables 90,000 90,000 Inventory 100,000 100,000 Plant assets (net) 220,000 300,000 Current liabilities (45,000) (45,000) Long-term debt (114,000) (114,000) Common stock (10,000) Retained earnings (170,000)Maynard Corporation reports net assets of P300,000 at book value. These assets have an estimated market value of P350,000. Jim Corporation buys 80% ownership of Maynard for P300,000; there is a control premium of P10,000 included in the purchase price. Of the Goodwill reported in the consolidated balance sheet (as of date of acquisition), how much is attributable to noncontrolling interest if NCI is measured at proportionate share?1. Assume the following data apply shortly after Python Co. acquires Snakes Co.: P Co. (000s) 450 S Co. (000s) Assets 200 Liabilities 250 125 CS 75 35 APIC/OCC 75 30 RE 50 10 P asset s have a fair value = 435k; S' identifiable assets have a P acquires 80% of S's outstanding voting S' assets include pre-acquisition fair value = 300k. stock for $160k cash. Goodwill of 20k, and P's assets (and S' liabilities) reflect a Loan P has made to S for 10k. The DOA consolidated Balance Sheet should show (hint:: your B/S should balance: a+b-c=d+e+f+g) : a, identifiable assets b. Goodwill (algebraic) liabilities C. d. Common Stock e. APIC/OCC f. RE g. Noncontrolling interest h. Differential