4. What amount of total Accumulated Profits will be reported in the Consolidated Statement of financial position on Mar. 31, 2019?5. What amount of non-controlling interest will be reported in the Consolidated Statement of financial position on Mar. 31, 2019 under full/partial goodwill method? Plex corporation acquired 80% of Slex on Mar. 31,2019 for P260,000.Immediately after the business combination, the separate satements offinancial position for Plex and Slex are as follows:wwwwPlex corpP70,000100,000500,000260,000P930,000Slex corpCash and ReceivablesInventoryPlant assets (net)Investment in SlexP90,00060,000250,000Total AssetsP400,000P60,00090,000100,000150,000P400,000on that date, SLex's plant assets had fair value of P50,000 more than theCurrent LiabilitiesLont term debtOrdinary Share capitalAccumulated profitsP180,000200,000300,000250,000P930,000L& SHEbook value. All other book values approximated fair value.

Given, On 31.03.2019, Plex corporation acquired 80% of Slex corporation Cost of acquisition =…

Rlex corporation acquired 80% of Slex on Mar. 31,2019 for P260,000. Immediately after the business combination, the separate satements of financial position for Plex and Slex are as follows: mww Plex corp P70,000 100,000 500,000 260,000 P930,000 Slex corp Cash and Receivables Inventory Plant assets (net) Investment in Slex Total Assets P90,000 60,000 250,000 P400,000 P60,000 90,000 100,000 150,000 P400,000 on that date, SLex's plant assets had fair value of P50,000 more than the Current Liabilities Lont term debt Ordinary Share capital Accumulated profits P180,000 200,000 300,000 250,000 P930,000 L & SHE book value. All other book values approximated fair value.

Rlex corporation acquired 80% of Slex on Mar. 31,2019 for P260,000. Immediately after the business combination, the separate satements of financial position for Plex and Slex are as follows: mww Plex corp P70,000 100,000 500,000 260,000 P930,000 Slex corp Cash and Receivables Inventory Plant assets (net) Investment in Slex Total Assets P90,000 60,000 250,000 P400,000 P60,000 90,000 100,000 150,000 P400,000 on that date, SLex's plant assets had fair value of P50,000 more than the Current Liabilities Lont term debt Ordinary Share capital Accumulated profits P180,000 200,000 300,000 250,000 P930,000 L & SHE book value. All other book values approximated fair value.

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

Chapter12: Intangibles

Section: Chapter Questions

Problem 9RE

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Illustration 1. Share-for-share exchangesOn January 1, 2022, Frank Co. and Richard, Inc. combined. As of this date, the fair values of the assets, liabilities and equity of Frank and Richard before the business combination are as follows: On the negotiation for the business combination, the acquirer incurred the followingtransaction costs: P45,000.00 for legal fees; P 5,000.00 for due diligence cost and P 80,000.00 for the general admin cost and cost of maintaining an internal acquisition department. Case 1: before the transaction, Frank, Co. have 7,000 outstanding shares. Frank Co. Issued additional 10,000 shares as consideration for a 100% interest in Richard. Frank’s shares currently sells P150 per share in the market, while Richard’s shares are quoted at P200 per share.With the stated facts, answer the following: 1. How much is the goodwill (gain on bargain purchase) on the business combination?…
On January 1, 2019. P Corporation purchased 75% of the common stock of S Company. Separate balance sheet data for the companies at the combination date are given below: P Corporation Company P9,600 57,600 52,800 31,200 280,000 (96,000) Cash P82,400 10,400 15,200 12,800 120,000 (24,000) Accounts receivable Inventory Land Plant assets Accumulated depreciation Investment in Ucky Total assets Accounts payable Capital stock Retained earnings Total equities 156,800 P492,000 P216,800 P82,400 320,000 89,600 P492.000 P216,800 P56,800 120,000 40,000 At the date of combination the book values of S Company's net assets was equal to the fair value of the net assets except for S Company's inventory which has a fair value of P24,000. Indicate in each of the questions what the consolidated balance would be for the requested account, assuming the amount assigned to NCI is the proportionate share in the fair value of net assets. 1. What amount of inventory will be reported а. Р52,800 b. Р68,000 c.…
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