Octane Company and Bio Company have announced terms or an exchange agreement under which Octane will issue 10,000 shares or its P5 par value ordinary shares to acquire all of Bio's assets. Octane's shares are trading at P28. and Bio's P10 par value shares are trading at P15. financial position data on January 1, 2008, are as follows: Historical cost and fair value statement of Octane Company Вook Bio Company Fair Value Fair Value Вook Cash Value Value P 125,000 P 125,000 P 25,000 120,000 en40,000 50,000 Land 75,000 30,000 Buildings and Equipment (net) Total Assets 180,000 P 380,000 220,000 120,000 150,000 P 175,000 Ordinary Shares Share Premium P 150,000 60,000 P 100,000 20,000 Retained earnings Total 170,000 P 380,000 55,000hot lesraiM P 175,000 .000,011 4) Başed on the information provided, what amount will be reported for Ordinary Share in the combined company's statement of financial position immediately following the business combination? a. 200,000 b. 205,000 C. 210,000 d. 215,000 o nommo ptoy 5) Based on the information provided, what amount will be reported for Shareholders' Equity in the combined company's statement of financial position immediately following the business combination? a. 660,000 b. 665,000 c. 670,000 d. 685,000 000 00 oration holds assets with a fair value of P150,000 and a Inilitior with a book value and fair

Peace Company issued common shares with a par value of $59,000 and a market value of $159,300 in exchange for 30 percent ownership of Symbol Corporation on January 1, 20X2. Symbol reported the following balances on that date: Assets Cash Accounts Receivable Inventory (FIFO basis) Land Buildings & Equipment SYMBOL CORPORATION Balance Sheet January 1, 20X2 Book Value Fair Value $ 57,000 86,000 137,000 $ 57,000 86,000 167,000 59,000 74,000 505,000 328,000 (245,000) 33,000 Less: Accumulated Depreciation Patent Total Assets Liabilities & Equities Accounts Payable Bonds Payable Common Stock Additional Paid-In Capital Retained Earnings Total Liabilities & Equities $ 599,000 $ 745,000 $ 22,000 192,000 137,000 11,000 237,000 $ 599,000 $ 22,000 192,000 The estimated economic life of the patents held by Symbol is 4 years. The buildings and equipment are expected to last 6 more years on average. Symbol paid dividends of $15,000 during 20X2 and reported net income of $87,000 for the year. Required:…

PAR Inc. Inc. purchased 90% of the outstanding voting shares of SUB Inc. for $90,000 on January 1, 2021. Fair value versus carrying value differences were identified as follows: Jan 1, 2021 SUB Inc.   carrying value fair value Cash $5,000 $5,000 Accounts Receivable $30,000 $30,000 Inventory $30,000 $50,000 Equipment (net) $25,000 $20,000 Land $20,000 $30,000 Trademark $10,000 $18,000 Total Assets $120,000 $153,000  Liabilities $70,000 $70,000 Common Shares $30,000   Retained Earnings $20,000   Total Liabilities and Equity $120,000   The equipment had a remaining useful life of 10 years from the date of acquisition. SUB's trademark is estimated to have a remaining life of 5 years from the date of acquisition. ASSUME INSTEAD that PAR has chosen to use the identifiable net assets method to value the non-controlling interest. Calculate at acquisition date: NCI ii) Goodwill

The following book and fair values were available for Westmont Company as of March 1.     Book Value Fair Value Inventory $ 644,750   $ 609,000   Land   779,250     1,086,750   Buildings   1,770,000     2,138,250   Customer relationships   0     842,250   Accounts payable   (102,000 )   (102,000 ) Common stock   (2,000,000 )       Additional paid-in capital   (500,000 )       Retained earnings, 1/1   (424,500 )       Revenues   (457,000 )       Expenses   289,500             Arturo Company pays $4,130,000 cash and issues 28,200 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont’s common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $32,400 and Arturo pays $49,800 for legal fees to complete the transaction.   Prepare Arturo’s journal entries to record its acquisition of Westmont. (If no entry is required for a transaction/event, select "No journal entry…

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