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On January 1, 2019, 90% of the outstanding stocks of Anak Company was purchased by Tatay Company for P2,880,000. At that time, the book value
On January 1, 2019, 90% of the outstanding stocks of Anak Company was purchased by Tatay Company for P2,880,000. At that time, the book value of Anak Company's net assets equaled to P2,800,000.The excess is attributable to equipment with a 10-year life.
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