{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T17:10:08-04:00", "answer_date": "2024-05-26 17:10:08", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1750983", "url": "\/study-help\/questions\/aaa-inc-was-merge-into-bbb-corp-in-a-combination-1750983", "question_creation_date_js": "2024-05-26T17:10:08-04:00", "question_creation_date": "May 26, 2024 05:10 PM", "meta_title": "[Solved] AAA Inc. Was merge into BBB Corp. in a co | SolutionInn", "meta_description": "Answer of - AAA Inc. Was merge into BBB Corp. in a combination properly accounted for as acquisition of interest. Their condensed | SolutionInn", "meta_keywords": "aaa,inc,merge,bbb,corp,combination,properly,accounted,acquisition,interest,condensed,statement", "question_title_h1": " AAA Inc. Was merge into BBB Corp. in a combination properly accounted for as acquisition of interest. Their condensed Statement of Financial Position before", "question_title": " AAA Inc. Was merge into BBB Corp. in a combination properly", "question_title_for_js_snippet": "AAA Inc Was merge into BBB Corp in a combination properly accounted for as acquisition of interest Their condensed Statement of Financial Position before the combination show AAA Inc BBB Corp Cash 88,000 88,000 Accounts Receivable, net 500,000 420,000 Inventory 1,700,000 1,119,600 Property Plant and Equipment 4,654,000 1,040,000 Patent 260,000 Accounts Payable 1,000,000 171,600 Mortgage Payable 1,704,000 Capital Stock, par P100 2,600,000 1,300,000 Share Premium 390,000 390,000 Retained Earnings 1,248,000 1,066,000 As per independent appraiser's report, BBB's assets have fair market value of P1,653,600 for current assets, P1,248,000 for plant and equipment and P338,000 for patents BBB's liabilities are properly valued AAA purchases BBB's net asset for P4,000,000 Compute for the consolidated asset after acquisition ", "question_description": "\"image", "transcribed_text": "AAA Inc. Was merge into BBB Corp. in a combination properly accounted for as acquisition of interest. Their condensed Statement of Financial Position before the combination show: AAA Inc. BBB Corp. Cash 88,000 88,000 Accounts Receivable, net 500,000 420,000 Inventory 1,700,000 1,119,600 Property Plant and Equipment 4,654,000 1,040,000 Patent 260,000 Accounts Payable 1,000,000 171,600 Mortgage Payable 1,704,000 Capital Stock, par P100 2,600,000 1,300,000 Share Premium 390,000 390,000 Retained Earnings 1,248,000 1,066,000 As per independent appraiser's report, BBB's assets have fair market value of P1,653,600 for current assets, P1,248,000 for plant and equipment and P338,000 for patents. BBB's liabilities are properly valued. AAA purchases BBB's net asset for P4,000,000. Compute for the consolidated asset after acquisition.", "related_book": { "title": "Accounting What the Numbers Mean", "isbn": "9780077515904, 007802529X, 77515900, 978-0078025297", "edition": "10th edition", "authors": "David H. Marshall, Wayne W. McManus, Daniel F. Viele", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/262.jpg", "uri": "\/textbooks\/accounting-what-the-numbers-mean-10th-edition-262", "see_more_uri": "" }, "free_related_book": { "isbn": "979-8860997356", "uri": "\/textbooks\/recap-a-newbies-guide-to-transformative-tech-1st-edition-979-8860997356-123003", "name": "Recap A Newbies Guide To Transformative Tech", "edition": "1st Edition" }, "question_posted": "2024-05-26 17:10:08", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/calculus-with-applications\/in-exercises-1-through-14-compute-the-indicated-values-of-the-given-function-fx-3x-2", "description": "In Exercises 1 through 14, compute the indicated values of the given function. f(x) = 3x 2 + 5x 2; f(0), f(2), f(1)", "stars": 3 }, { "url": "\/kings-landing-is-a-large-amusement-theme-park-located-in", "description": "King's Landing is a large amusement theme park located in Virginia. 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Was merge into BBB Corp. in a combination properly", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/aaa-inc-was-merge-into-bbb-corp-in-a-combination-1750983" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } } }