SAR Co paid P110,000 for the net assets of Ken Corp. At the time of the acquisition,the attached photo are informatiom available related to Ken Corp's balance sheet. What is the amount of gain or loss on disposal of a business should Ken Corp. recognize? Same problem with the previous SAR Co. * Book Value P50, 000 Fair Value P 50,000 100, 000 50,000 30,000 Current Assets Building Equipment Liabilities 80,000 40,000 30,000 Gain of 30,000 Gain of 60,000 Loss of 30,000 Loss of 60,000

SAR Co paid P110,000 for the net assets of Ken Corp. At the time of the acquisition,the attached photo are informatiom available related to Ken Corp's balance sheet. What is the amount of gain or loss on disposal of a business should Ken Corp. recognize? Same problem with the previous SAR Co. * Book Value P50, 000 Fair Value P 50,000 100, 000 50,000 30,000 Current Assets Building Equipment Liabilities 80,000 40,000 30,000 Gain of 30,000 Gain of 60,000 Loss of 30,000 Loss of 60,000

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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Answer
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