Reference no: EM132978733
Questions -
Q1. The assets and liabilities of ABC were summarized as follows: Cash P66,000; Inventories P198,000; Property and Equipment (net) P396,000 and Liabilities P148,500. On April 1,2021, thw DEF Company acquired the above net asstets of ABC in a transaction properly accounted for as purchase by paying P578,750 cash. Furthermore, it was determined that the inventoried ABC had a market value of P156,750 and the property and equipment of P462,000. What should be the amount recorded as goodwill by DEF as a result of the business combination?
Q2. The following are extracted for the books and records of ABC Corp. and its branch. The balances are at December 31,2021, the third year of the corporation existence.
BRANCH BOOKS HOME OFFICE BOOKS
Allowance for Overvaluation 72,500.00
Sales 600,000.00
Expenses 200,000.00
Shipment from Home office 444,000.00
The branch acquires all of its merchandise from the Home Office. The inventories of the Branch at billed prices are as follows: January 1,2021 P47,717.18 and December 31 P84,000. How much is the adjusted branch profit?
|
Organisational change happening in australian organisation
: If there is any organisational change happening in Australian Organisation, any legislation can affect it, if yes what kinds of legislations. Can you please pro
|
|
Record the transactions in the cash payments journal
: Record the transactions in the cash payments journal. Which transaction should not be recorded in the cash payments journal? In what journal does it belong
|
|
Create high-performing teams
: -Do you agree with the author that toxic leadership works in direct opposition to diversity and inclusion practices? Why or why not?
|
|
Describe the np core competencies as identified by nonpf
: Describe the NP Core Competencies as identified by NONPF, and discuss how your past, current and future academic preparation meets these requirements
|
|
How much is the adjusted branch profit
: The inventories of the Branch at billed prices are as follows: January 1,2021 P47,717.18 and December 31 P84,000. How much is the adjusted branch profit
|
|
What is the indepenent payment advisory board
: What is the Indepenent Payment Advisory Board
|
|
Personal investment objectives
: Find a few ratios, such as price/earnings ratio, the dividend payout ratio, the dividend yield, book value, and earnings per share. Using the ratio results
|
|
How the american culture and society changed in the north
: How the American culture and society changed in the North versus the South during Reconstruction. nalyze if the South should have been treated as a defeated
|
|
What is the consolidated net income
: For 2022, ABC reported operating income of P590,000 and DEF reported net income of P450,000. What is the consolidated net income
|