Reference no: EM132904611
Question - The Statement of Financial Position of Selah Corporation on January 1, 2025 is presented below:
Current Asset 1,170,000
Land 7,920,000
Building 3,960,000
Equipment 3,150,000
Total Assets 16,200,000
Liabilities 3,150,000
Ordinary Assets 5,400,000
Share premium 4,950,000
Retained Earnings 2,700,000
Total Equities 16,200,000
Additional Information:
All the assets and liabilities of Selah assumed to approximate their fair values except for land and building.
It is estimated that the land has a fair value o P12,600,000.
Psalm Corporation acquired 80% of Selah outstanding share of P 18,000,000. The non-controling interest is measured at fair value.
Required -
1. Assuming that the fair value of NCI is P5,000,000, how much is the goodwill (gain on acquisition) on the consolidated financial statement?
2. Assuming that the fair value of NCI is 3,000,000, how much is the goodwill(gain on acquisition) on the consolidate financial staement?
3. Assuming that the consideration paid includes control premium of P5,112,000, how much is the goodwill(gain on acquisition) on the consolidate financial staement?
4. Assuming the consideration paid excludes control premium of 276,000 and the fair value of non-controlling interest is 4,149,000, how much is the goodwill(gain on acquisition) on the consolidate financial staement?
5. Assuming the consideration paid includes control premium of 1,332,000, how much is the goodwill(gain on acquisition) on the consolidate financial staement if NCI is measured based on proportionate share?
|
Calculate ABCs earnings per share
: On Feb 28, 100,000 common shares were issued for $8,000,000. There were issuing fees of $750,000. Calculate ABC's earnings per share for 2021
|
|
Company hedging strategy
: What strategy would you select for Nodal and why? Summarize your selected company's hedging strategy.
|
|
Diversity in a globalized economy
: Description of helping forces or forces likely to support or otherwise facilitate successful implementation.
|
|
How understanding risk and returns will impact the decision
: Discuss how understanding risk and returns will impact this decision. Give credit to any sources you use to support your statements.
|
|
How much is goodwill on consolidate financial staement
: How much is the goodwill(gain on acquisition) on the consolidate financial staement if NCI is measured based on proportionate share
|
|
Prepare the journal entries for the conversion
: Prepare the journal entries for the conversion. On January 1, 20x1, Mary Jane Company issues 1,000 of its 5-year 9% P2,000 face value convertible.
|
|
Benefits of employee participation in change management
: What are the benefits of employee participation in change management?
|
|
What was the amount of the gain or loss
: McDonald's Waste Management, What was the amount of the Gain or Loss that McDonald's Waste Management recognized on the sale of this asset?
|
|
What are the 3 main business processes
: What are the 3 main business processes supported by ERP systems?
|