3. When Peter Company acquired Sam Company's net assets by issuing its own capital stock, it had the following expenditures: P80,000 50,000 45,000 60,000 15,000 Broker's fee Pre-acquisition audit fee Legal fees for merger agreement Audit fee for SEC registration of stock issue Printing of stock certificates Under IFRS #3 Revised, the expenditures that should be debited to share premium is: a PI5,000 b. P175,000 c. P120,000 d P75,000
3. When Peter Company acquired Sam Company's net assets by issuing its own capital stock, it had the following expenditures: P80,000 50,000 45,000 60,000 15,000 Broker's fee Pre-acquisition audit fee Legal fees for merger agreement Audit fee for SEC registration of stock issue Printing of stock certificates Under IFRS #3 Revised, the expenditures that should be debited to share premium is: a PI5,000 b. P175,000 c. P120,000 d P75,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 17E
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