Homework Help is Here – Start Your Trial Now!
Business
Accounting
Wendelle paid finder's fees of P40,000, acco legal fees (advisory) of P15,000, salaries of V to the implementation of the merger of P16, facilities of P12,000, cost of shareholder's m of P14,000, cost of printing stock certificates accountant's fee related to the stock issuand fee of P5,000 and stock listing application fe preceding information under the acquisition

Wendelle paid finder's fees of P40,000, acco legal fees (advisory) of P15,000, salaries of V to the implementation of the merger of P16, facilities of P12,000, cost of shareholder's m of P14,000, cost of printing stock certificates accountant's fee related to the stock issuand fee of P5,000 and stock listing application fe preceding information under the acquisition

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Wendelle paid finder's fees of P40,000, accountant's fee (Advisory) of P10,000. legal fees (advisory) of P15,000, salaries of Wendelle's employees assigned to the implementation of the merger of P16,000, cost of closing duplicate facilities of P12,000, cost of shareholder's meeting to vote on the merger of P14,000, cost of printing stock certificates of P7,000, audit and accountant's fee related to the stock issuance of P3,000, SEC registration fee of P5,000 and stock listing application fees of P4,000. Based on the preceding information, under the acquisition method following PFRS 3 what amount relating to the business combination would be expensed?
Transcribed Image Text:Wendelle paid finder's fees of P40,000, accountant's fee (Advisory) of P10,000. legal fees (advisory) of P15,000, salaries of Wendelle's employees assigned to the implementation of the merger of P16,000, cost of closing duplicate facilities of P12,000, cost of shareholder's meeting to vote on the merger of P14,000, cost of printing stock certificates of P7,000, audit and accountant's fee related to the stock issuance of P3,000, SEC registration fee of P5,000 and stock listing application fees of P4,000. Based on the preceding information, under the acquisition method following PFRS 3 what amount relating to the business combination would be expensed?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Consolidations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS