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What is the total no of shares to be issued

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Question - Companies Tito and Tita decided to consolidate. The net assets and annual earnings contributions are as follows:

Net assets

Tito Co. 400,000

Tita Co. 600,000

Estimated annual earnings

Tito Co. 100,000

Tita Co. 125,000

Shareholders of the two companies agree that a single class of stock be issued. And their contributions be measured by net assets plus allowances for goodwill. The normal rate of return was 10% and the excess from the normal rate of return shall be capitalized at 25%in computing for goodwill. It was also agreed that the authorized share capital of the new corporation shall be 20,000 shares with a par value of P200 per share. What is the total no. of shares to be issued by the new corporation?

Reference no: EM133163912

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