Parent purchases the net assets of Sub for P3,168,000. What is the total assets of Parent after the combination? * A Parent Corporation was merged into Sub Company in a combination properly accounted for as an acquisition. Their condensed statement of financial position before the combination are as follows: Parent 3,288,000 Sub 1,627,600 1,040,000 260,000 2,927,600 Current assets Property and equipment 4,654,000 Patents Total assets 7,942,000 Liabilities Ordinary share, P100 par Share premium Retained earnings Total liabilities and equity 3,704,000 2,600,000 390,000 1,248,000 7,942,000 171,600 1,300,000 350,000 1,106,000 2,927,600 Per appraisal's report, Sub's assets have fair values of: Current assets Property and equipment Patents 1,653,600 1,248,000 338,000 7,254,000 O 8,113,600 O 9,181,600 O 7,354,000

Parent purchases the net assets of Sub for P3,168,000. What is the total assets of Parent after the combination? * A Parent Corporation was merged into Sub Company in a combination properly accounted for as an acquisition. Their condensed statement of financial position before the combination are as follows: Parent 3,288,000 Sub 1,627,600 1,040,000 260,000 2,927,600 Current assets Property and equipment 4,654,000 Patents Total assets 7,942,000 Liabilities Ordinary share, P100 par Share premium Retained earnings Total liabilities and equity 3,704,000 2,600,000 390,000 1,248,000 7,942,000 171,600 1,300,000 350,000 1,106,000 2,927,600 Per appraisal's report, Sub's assets have fair values of: Current assets Property and equipment Patents 1,653,600 1,248,000 338,000 7,254,000 O 8,113,600 O 9,181,600 O 7,354,000

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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