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On December 31, 2013, Pandawa Corporation issued 30,000 shares of its Rp25 par common stock for all the outstanding shares of Sinta Corporation. Pandawa also

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On December 31, 2013, Pandawa Corporation issued 30,000 shares of its Rp25 par common stock for all the outstanding shares of Sinta Corporation. Pandawa also paid additional cash Rp150,000 for the acquisition. In addition, Pandawa paid Rp 12,500 in stock issuance costs and Rp62,500 in legal fees. Summarized balance sheet and fair value information for Sinta immediately prior to the acquisition follows. Book Value Fair Value Cash Rp150,000 Rp150,000 Accounts Receivable 300,000 335,000 Inventory 470,000 640,000 Buildings and Equipment (net) 580,000 550,000 Trademarks and Tradenames 0 475,000 Total Assets Rpl.500.000 Accounts Payable Rp400,000 Rp145,000 Notes Payable 700,000 900,000 Common stock 400,000 Total Liabilities and Equity Rpl.500,000 Required: When Pandawa's stock was trading at Rp25 at acquisition date: 1. Was there any goodwill or gain from bargain purchase resulted from the acquisition of Sinta? Show the calculation to prove your answer. 2. Prepare Pandawa's general journal entry for the acquisition of Sinta assuming Sinta dissolves as a separate legal entity. 3. Prepare Pandawa's general journal entry for the acquisition of Sinta assuming that Sinta survives as a separate legal entity

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