Answered step by step
Verified Expert Solution
Question
1 Approved Answer
experts please help Immediately values and fair PROBLEMS 1- Consideration Transferred and Goodwill Computation Balance sheet Information for Hope Corporation at January 1, 20x4, is
experts please help
Immediately values and fair PROBLEMS 1- Consideration Transferred and Goodwill Computation Balance sheet Information for Hope Corporation at January 1, 20x4, is summarized as follows: Current assets...........P 920.000 Liabilities: P 1.200.000 Plant asset 1.800.000 Capital Stock P10 par 800,000 Retained earnings 720.000 P 2.720.000 P 2.720.000 Hope's assets and liabilities are fairly valued except for plant assets that are undervalued P200,000. On January 2, 20x4. Robin Corporation issues 80,000 shares of its P10 por vale common stock for all of Hope's nef assets and Hope is dissolved. Market quotations for the stocks on this date cre: Robin common: P28 Hope common: P19 Robin pays the following fees and costs in connection with the combination: Finder's fee, P10,000 Costs of registering and issuing stock, P5,000 Legal and accounting fees. P6,000 Required: 1. Calculate the amount of consideration transferred. 2. Calculate any goodwill from the business combination. Il lournal Entries. Goodwill and Baranin Purcharom Cash Inven Land Buildir Total Curret Bonds Com Other Retals Total Required: Pres the assets and IV - Pritano CompStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started