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PP Corporation acquired 70 percent of SS Corporation's common stock on December 31, 20x4. Balance sheet data for the two companies immediately following the acquisition follow: PP SS Item Corporation Corporation Cash P44,000 P30,000 Accounts Receivables 110,000 45,000 Inventory 130,000 70,000 Land 80,000 25,000 Buildings and equipment 50 0 ,0 0 0 40 0,0 00 Less: Accumulated Depreciation (223,000) (165,000) Investment in Corporation Stock 1 50,50 0 . Total Assets P791,500 P405,0 0 Accounts Payable P61,50 0 P28 ,0 0 0 Taxes Payable 95,000 37,000 Bonds Payable 280,000 200,000 Common Stock 150,000 50,000 Retained Earnings 205,000 90,000 Total liabilities and stockholders' Equity P791,50 0 P405,0 00 At the date of business combination, the book values of 88's net assets and liabilities approximated fair value except for inventory, which had a fair value of P85, 000 and land, which had a fair value of P45,000. The fair value of the non-controlling interest was P64, 500 on December 31, 20x4. Indicate the appropriate total that should appear in the consolidated balance sheet prepared immediately after the business combination. What amount of goodwill (full) will be reported? Select one: 0 P40,000 o P52,000 o P-D- o P 28,000 Question 48 Not yet answered Marked out of 1.00 'F Flag question The equipment of a subsidiary acquired January 1, 20x5 has a cost and accumulated depreciation of P300,000 and P170000, respectively. The equipment is appraised at P320000 at the acquisition date. Assuming the equipment has a 10-year remaining life, what is the amount of the purchase differential amortization to depreciation expense in 20x7? Select one: 0 P17,000 O P15,000 O P2300 O P19,000 Question 46 Not yet answered Marked out of 1.00 p Flag question Ronald company maintains branches that market the products it produces. Merchandise is billed to the branches at cost, with the branches paying the freight charges from the Home office to the branch. On May 27, Alamid-branch shipped a portion of its merchandise to Kapitan-branch upon authorization by the Home Office. Originally, Alamid-branch had been billed for this merchandise at P25,000 and paid freight charges of P3,125 on the shipments from Home Office. Kapitan-branch, upon receiving the merchandise, pays freight charges of P1,875 on the shipment from Alamid branch. If the shipment had been made from the Home office directly to Kapitan-branch, the freight cost to Kapitan-branch would have been P4000. Upon receipt of shipment by Kapitan-branch, freight in is debited in the amount of? Select one: O P1,000 O P1,875 O P4,000 O P2,125