Reference no: EM133091586
Question - Ang Company issued 120,000 shares of its P25 par common stock for the net assets of Chan Corporation in a business combination completed on March 1, 2010. Chan Corporation's net assets are worth P3,800,000 at FMV. Out of pocket costs of the combination were as follows:
Legal fees 26,000
Contingent consideration (highly probable & measurable) 18,000
Printing costs of stock certificates 8,500
Finder's fees 27,000
Professional fees paid to a CPA 21,000
Fees paid to company lawyers 23,450
Fees paid to company accountants 38,900
The goodwill from the business combination is P418,000.
Required - How much is the FMV per share of Ang Company at March 1, 2010?
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