Pls answer and provide solution and explanation 3. When Peter Company acquired Sam Company's net assets by issuing its own capital stock,it had the following expenditures:P80,00050,00045,00060,00015,000Broker's feePre-acquisition audit feeLegal fees for merger agreementAudit fee for SEC registration of stock issuePrinting of stock certificatesUnder IFRS #3 Revised, the expenditures that should be debited to share premium is:a PI5,000b. P175,000c. P120,000d. P75,000CHAPTER 1: BUSIN ESS COMBINATIONPage | 444. On January 2, 2019, Panasonic Company purchased 90% of the outstanding shareSamsung Company for P80,000,000. Panasonic also Paid P2,500,000 as direct ofattributable to the combination. Panasonic was also obligated to pay an additionsP20,000,000 to the stockholders of Samsung Company at the end of the year if Samsucompany maintained existing profitability and it is highly probable that Samsung compegwould achieve this expectation. The fair value of the contingent consideration ?P20,000,000.The following financial information for Panasonic Company and Samsung Companyfollows:SamsungCompanyPanasonicCompanyBook Value90,000,00032,500,00047,500,000100,000,0006,000,00060,000,000200,000,00016,000,000Book Value7,500,00017,500,00025,000,00050,000,0004,000,00010,000,00075,000,00019,000,000Fair Value7,500.00016,500,00023,000,00060,000,0002,500,000Cash and Cash EquivalentAccounts ReceivableInventoryPlant and EquipmentOther AssetsLiabilitiesShare CapitalRetained Earnings9950Assuming Panasonic opted to measure NCI proportionate to its share on the identifiable netassets acquired, the amount of goodwill to be recorded by Panasonic arising from the businessacquisition is:a P11,611,110b. P10,450,000c. P11,111,111d. P10,950,000

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3. When Peter Company acquired Sam Company's net assets by issuing its own capital stock, it had the following expenditures: P80,000 50,000 45,000 60,000 15,000 Broker's fee Pre-acquisition audit fee Legal fees for merger agreement Audit fee for SEC registration of stock issue Printing of stock certificates Under IFRS #3 Revised, the expenditures that should be debited to share premium is: a PI5,000 b. P175,000 c. P120,000 d P75,000

3. When Peter Company acquired Sam Company's net assets by issuing its own capital stock, it had the following expenditures: P80,000 50,000 45,000 60,000 15,000 Broker's fee Pre-acquisition audit fee Legal fees for merger agreement Audit fee for SEC registration of stock issue Printing of stock certificates Under IFRS #3 Revised, the expenditures that should be debited to share premium is: a PI5,000 b. P175,000 c. P120,000 d P75,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 17E

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