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On January 1, year 1, ABC Corporation purchased 80% of XYZ Corporation's P10 par common stock for P975,000. On this date, the carrying amount of

On January 1, year 1, ABC Corporation purchased 80% of XYZ Corporation's P10 par common stock for P975,000. On this date, the carrying amount of XYZ's net assets was P1,000,000. The fair values of XYZ...

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