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Total assets of Avril Co. after combination

Total assets of Avril Co. after combination

FINANCIAL ACCOUNTING
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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Hello, I can't seem to get this sample problem that is given in our textbook(reading the book in advance). The needed answer is:

Total assets of Avril Co. after combination
Statement of financial position reflecting uniform accounting procedures, as well as fair values that are to be used as basis of the combination are prepared on September 1, 2020 as follows: Beryl Co. Caryl Company 1,800,000 Avril Co. 10,500,000 13,600,000 Assets Liabilities 7,900,000 5,300,000 1,060,000 Capital stock; all P10 par Additional paid in capital Retained earnings (deficit) Total equities 3,400,000 2,400,000 550,000 1,000,000 280,000 (800,000) 4,900,000 10,500,000 13,600,000 (90,000) 1,800,000 Avril company shares have a market value of P22 per share. Market values is not available for shares of Beryl Co. and Caryl Co. On September 1, 2020 Avril Co. acquires all of the assets and assumes the liabilities of Beryl Co. and Caryl Co. by issuing 400,000 shares of its stock to Beryl Company and 58,000 shares of its stock to Caryl Co. Avril Co pays P20,000 for registering and issuing securities and P40,000 for other acquisition costs of combination.
Transcribed Image Text:Statement of financial position reflecting uniform accounting procedures, as well as fair values that are to be used as basis of the combination are prepared on September 1, 2020 as follows: Beryl Co. Caryl Company 1,800,000 Avril Co. 10,500,000 13,600,000 Assets Liabilities 7,900,000 5,300,000 1,060,000 Capital stock; all P10 par Additional paid in capital Retained earnings (deficit) Total equities 3,400,000 2,400,000 550,000 1,000,000 280,000 (800,000) 4,900,000 10,500,000 13,600,000 (90,000) 1,800,000 Avril company shares have a market value of P22 per share. Market values is not available for shares of Beryl Co. and Caryl Co. On September 1, 2020 Avril Co. acquires all of the assets and assumes the liabilities of Beryl Co. and Caryl Co. by issuing 400,000 shares of its stock to Beryl Company and 58,000 shares of its stock to Caryl Co. Avril Co pays P20,000 for registering and issuing securities and P40,000 for other acquisition costs of combination.
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