On August 31, 2021, Nutcraker Corp. issued 100,000 shares of its P20 par value ordinary stock for the net assets of Pilar, Inc., in a business combination accounted for by the acquisition method. The market value of Nutcraker Corp. 's ordinary shares on August 31 was P36 per share. Nutcraker paid a fee of P160,000 to the consultant who arranged this acquisition. Cost of registering and issuing the equity securities amounted to P80,000. No goodwill was involved in the purchase. What amount should Nutcraker capitalize as the cost of acquiring Pilar's net assets?

On August 31, 2021, Nutcraker Corp. issued 100,000 shares of its P20 par value ordinary stock for the net assets of Pilar, Inc., in a business combination accounted for by the acquisition method. The market value of Nutcraker Corp. 's ordinary shares on August 31 was P36 per share. Nutcraker paid a fee of P160,000 to the consultant who arranged this acquisition. Cost of registering and issuing the equity securities amounted to P80,000. No goodwill was involved in the purchase. What amount should Nutcraker capitalize as the cost of acquiring Pilar's net assets?

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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