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Business Combination 37 a. 13-&. Continued On April 27, 2017 it was determined that the inventory of Ana had a fair value of P380,000, and the property and equipment (net) had a fair value of P1,120,000. What is the amount of goodwill income from acquisition) resulting from the business combination? a. P(500,000) b. P 100,000 c. P300,000 d. P(360,000) 13-9. Avon Corporation issued common stock with a par value of P450,000 and a market value of P700,000 to acquire the net assets of Bell Corporation in a business combination. Avon reported assets of P2,000,000 and liabilities of P542,000 immediately before the business combination. Bell Corporation's assets and liabilities had book values of P460,000 and P187,000, respectively. The fair values of Bell's assets and liabilities were P600,000 and P188,000, respectively. What amount should be reported as total assets of the combined entity immediately following the business combination? P2,888,000 b. P2,600,000 P2,158,000 d. P1,870,000 13-10: When White Company acquired Black Company's net assets by issuing its own capital stock, it had the following acquisition-related costs: Broker's fee P50,000 Pre-acquisition audit fee 40,000 General administrative costs 15,000 Legal fees for the combination 32,000 Audit fee for SEC registration of stock issue 46,000 SEC registration fee for stock issue 5,000 Other acquisition costs 6,000 The acquisition-related costs should be debited to the following accounts: Additional Expenses paid in capital P143,000 P78,000 b. P27,000 P51,000 P143,000 P51,000 d. P11,000 P 5.000 a