On May 2, 2022, the separate statement of financial position of Peter Corporation and Simon Company are as follows: Peter Simon Cash 145,700 15,000 Accounts receivable 120,500 35,800 Inventories 42,500 10,200 Plant assets 185,800 78,000 Total assets 494,500 139,000 Liabilities 110,400 28,800 Capital stock, P100 par 200,000 50,000 Additional paid-in capita l 50,000 0 Retained earnings 134,100 60,700 Total liabilities and equity 494,500 139,500 On May 2, 2022 Peter acquired 90% of Simon's outstanding voting shares for P108,000. Peter incurred additional P32,000 in acquisition- related costs. All the assets of Simon are fairly valued except the plant assets with a fair value of P90,000 on May 2, 2022. NCI is measured at proportionate share of Simon's identifiable net assets. What amount of total assets will be reported in the consolidated statement of financial position immediately after acquisition?
On May 2, 2022, the separate
Peter Simon
Cash 145,700 15,000
Inventories 42,500 10,200
Plant assets 185,800 78,000
Total assets 494,500 139,000
Liabilities 110,400 28,800
Capital stock, P100 par 200,000 50,000
Additional paid-in capita l 50,000 0
Retained earnings 134,100 60,700
Total liabilities and equity 494,500 139,500
On May 2, 2022 Peter acquired 90% of Simon's outstanding voting shares for P108,000. Peter incurred additional P32,000 in acquisition- related costs. All the assets of Simon are fairly valued except the plant assets with a fair value of P90,000 on May 2, 2022. NCI is measured at
proportionate share of Simon's identifiable net assets.
What amount of total assets will be reported in the consolidated statement of financial position immediately after acquisition?
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