Use the following information for the next two questions: Burns Co. issued 20,000 ordinary shares in...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Use the following information for the next two questions: Burns Co. issued 20,000 ordinary shares in exchange for all the assets and liabilities of Sighing, Inc. On acquisition date, Sighing's net identifiable assets have a carrying amount of Php4,000,000 and a fair value of Php2,000,000. The transaction increased Burns' share premium by Php400,000. However, no goodwill resulted from the business combination. How much is acquisition- date fair value per share of the ordinary shares transferred by Burns? a. 20 b. 40 C. 80 d. 100 How much is acquisition-date fair value per share of the ordinary shares transferred by Burns? a. 20 b. 40 C. 80 d. 100 Use the following information for the next two questions: Burns Co. issued 20,000 ordinary shares in exchange for all the assets and liabilities of Sighing, Inc. On acquisition date, Sighing's net identifiable assets have a carrying amount of Php4,000,000 and a fair value of Php2,000,000. The transaction increased Burns' share premium by Php400,000. However, no goodwill resulted from the business combination. How much is acquisition- date fair value per share of the ordinary shares transferred by Burns? a. 20 b. 40 C. 80 d. 100 How much is acquisition-date fair value per share of the ordinary shares transferred by Burns? a. 20 b. 40 C. 80 d. 100
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below A The fair valu... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
Posted Date:
Students also viewed these law questions
-
Use the following information for the next two questions: ABC Co. decided to open a branch in Manila. Shipments of merchandise to the branch totaled 54,000 which included a 20% mark-up on cost. The...
-
Use the following information for the next two (2) questions: Henry Co., a machinery dealer, sells a machine for P22,200 under a 1 year warranty contract that requires the company to replace all...
-
Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: Ending s 26,000 34,000 22,000 Inventories: Raw Materials Work-in-Process Finished Goods...
-
Discuss three quotes from the YouTube video (put time stamps after you type the quote) and explain why chose this quote. https://youtu.be/h86MGjGAtYk?si=_1hMyOefl0L3E4ox Example: Radio is "still...
-
1. What did Justice Kennedy mean when he said in his opinion, The Texas statute furthers no legitimate state interest which can justify its intrusion into the personal and private life of the...
-
See Table 2.5 showing financial statement data and stock price data for Mydeco Corp. Suppose Mydeco had purchased additional equipment for $12 million at the end of 2010, and this equipment was...
-
Have you ever made a decision and later realized that you mistakenly let irrelevant factors affect your choice? Explain.
-
Maxson Products distributes a single product, a woven basket whose selling price is $8 and whose variable cost is $6 per unit. The companys monthly fixed expense is $5,500. Required: 1. Solve for the...
-
a. Ever since she first opened her doors, Trina has practiced a last-in, first-out (LIFO) inventory policy, which has reduced her tax liability substantially. However, she runs into a problem when...
-
Using Rhodes Corporation's financial statements (shown below), answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 2012? b. What are the amounts of net...
-
. QUESTION 3 You win a lottery that will pay you $120,000 per month for 12 months. starting 1 month from now. What is the value of the lottery now if your interest rate is 5.5% p.a. compounded...
-
Jarvene Corporation uses the FIFO method of process costing. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning...
-
Simplify the expression 5 4 4 z 2 + 9 9 z 2
-
Create the code with JAVA. Welcome To The SENTENCE SCAN PROGRAM! ******** Please enter the sentence to scan: My Quiz2 was graded. Here are some data about your sentence: Word 1 has 2 characters. Word...
-
Evalute the following expression for x = 1 9 x + 1 6 5 x
-
Gold Nest Company of Guandong, China, makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their...
-
Mattel, Incorporated, and Hasbro are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their...
-
The Zwatch Company manufactures trendy, high-quality moderately priced watches. As Zwatch's senior financial analyst, you are asked to recommend a method of inventory costing. The CFO will use your...
-
Part I Maple Company had the following export and import transactions during 20X5: 1. On March 1, Maple sold goods to a Canadian company for C$30,000, receivable on May 30. The spot rates for marks...
-
Explain why consolidated financial statements become increasingly important when the differential is very large.
-
Quoton Corporation acquired 80 percent of Tempro Companys common stock on December 31, 20X5, at underlying book value. The book values and fair values of Tempros assets and liabilities were equal,...
-
8. Malaga Arabian Limited Partnership sold investments in the Spanish Arabian horse industry under Rule 506. James E. Mark, who purchased one of the partnership interests, alleged that the...
-
6. YOU BE THE JUDGE WRITING PROBLEM World-Wide Coin Investments Ltd. sold rare coins, precious metals, camera equipment, and Coca-Cola collector items. Its stock was registered with the SEC under the...
-
7. Suppose that, while waiting in line at the grocery store, you overhear a stranger saying that the FDA is going to approve a new drug tomorrow-one that will be a huge success for Alpha...
Study smarter with the SolutionInn App