Reference no: EM132663607

Problem 1: Beta Company acquired 10 percent of the voting common shares of Standard video Corporations, its bitter rival, by issuing bonds with a par value and Fair value of P150, 000. Immediately prior to the acquisition, Beta reported total assets of P500, 000, liabilities of P280, 000, and stockholders equity of P220, 000. At that date, standard Video reported total assets of P400, 000, liabilities P250, 000 and Stockholders' equity of P150, 000. Included in Standard's liabilities was an account payable to Beta in the amount of P20, 000, which Beta included in its account receivable. Based on the preceding information: What amount of total assets did Beta reported in its balance sheet immediately after the acquisition; what amount of assets was reported in the consolidate balance sheet immediately after the acquisition?