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The condensed balance sheet as of December 31, 2021 of Rain Corporation and Sun Corporation are: On January 1, 2022, Rain Corp. issued 20,000 shares of its common stock in exchange of all the outstanding stocks of Sun Corp. Rain Corp. common stock has market value of P30 per share. After the combination, investment in Sun Corp. stock in the balance sheet of Rain Corp. is:

The condensed balance sheet as of December 31, 2021 of Rain Corporation and Sun Corporation are: On January 1, 2022, Rain Corp. issued 20,000 shares of its common stock in exchange of all the outstanding stocks of Sun Corp. Rain Corp. common stock has market value of P30 per share. After the combination, investment in Sun Corp. stock in the balance sheet of Rain Corp. is:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The condensed balance sheet as of December 31, 2021 of Rain Corporation and Sun Corporation are: On January 1, 2022, Rain Corp. issued 20,000 shares of its common stock in exchange of all the outstanding stocks of Sun Corp. Rain Corp. common stock has market value of P30 per share. After the combination, investment in Sun Corp. stock in the balance sheet of Rain Corp. is:

 

Rain Corp 350,000 550,000 900.000 Sun Corp Current assets 150,000 Noncurrent assets Total assets 350,000 500,000 Liabilities 250,000 Capital stock, common P20 par Retained earnings Total liabilities & stockholders' equity 400,000 250.000 900,000 100,000 250,000 150.000 500,000
Transcribed Image Text:Rain Corp 350,000 550,000 900.000 Sun Corp Current assets 150,000 Noncurrent assets Total assets 350,000 500,000 Liabilities 250,000 Capital stock, common P20 par Retained earnings Total liabilities & stockholders' equity 400,000 250.000 900,000 100,000 250,000 150.000 500,000
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