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PROBLEM I. P Corporation, an SME, paid P3,000,000 for a 90% interest in S Company on January 1, 2019. Th Company included share capital of

PROBLEM I. P Corporation, an SME, paid P3,000,000 for a 90% interest in S Company on January 1, 2019. Th Company included share capital of P2,000,000 and retained earnings of P1,000,000. Of the excess...

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