What amount should be recorded as total consideration transferred? 2. What is the total net assets to be recorded by Al Corporation? 

Cash and receivables Inventory Land Plant and equipment Accumulated depreciation Total assets Accounts payable Book Value P 150,000 150,000 1,000,000 400,000 Fair Values P 100,000 200,000 1,100,000 300,000 (150,000) P1,450,000 P 50,000 60,000 Share capital, P10 par 800,000 Share premium 200,000 Retained earnings 400,000 Total liabilities and shareholders' equity P1,450,000 1. What amount should be recorded as total consideration transferred? 2. What is the total net assets to be recorded by Al Corporation? 3. What is the goodwill or bargain purchase amount (INDICATE IF A GOODWILL OR A GAIN ON BARGAIN PURCHASE)? B. Below are the pre-acquisition financial positions of lam Corp. and Feyld Corporation as December 31, 2023. Current assets lam Corp. (Book value) P 500,000 (Fair Value) P 150,000 Feyld Corporation (Book Value) P 200,000 50,000 50,000 Investments Land Building (net) Equipment (net) Total assets Current liabilities Long-term liabilities Ordinary shares Share premium Retained earnings 100,000 1,000,000 500,000 600,000 4,000,000 2,500,000 1,600,000 2,500,000 1,000,000 400,000 P8,100,000 P4,250,000 P 400,000 2,000,000 P 150,000 150,000 1,000,000 1,200,000 4,000,000 800,000 450,000 250,000 1,250,000 2,050,000 P4,250,000 Total liabilities and shareholders' equity P8,100,000 On January 1, 2023, lam Corp. paid cash of P500,000; issued bond of P1,000,000 which was selling at 95 and issued 10,000 of its own ordinary shares with a par value of P10 and currently selling at P50. Iam Corp. also paid P50,000 for the processing of the business combination. 4. What is the total consideration transferred? 5. What is the goodwill/gain on purchase option (INDICATE IF GOODWILL OR GAIN ON BARGAIN PURCHASE)? 6. What is the total assets after the combination? 7. What is the total liabilities after the combination? 8. What is the total shareholders' equity after the combination? 9. What type of business combination if 10. Give the journal entries of lam Corp. to record the acquisition of Feyld Corporation.