Question: With complete solution required each no. 40 Chapter 13 13-15: MM Company issued its common stock for the net assets of PP Company in a

With complete solution required each no. 40 Chapter 13 13-15: MM Company issued its common stock for the net assets of PP Company in a business combination treated as acquisition. MM's common stock issued was worth P1,000,000. At the date of combination, MM's net assets had a book value of P1.2 million and a fair value of P1.6 million; PP's net assets had a book value of P650,000 and a fair value of P800,000. Immediately following the combination, the net assets of the combined company should have been reported at what amount? a. P3,000,000 b. P2,200,000 c. P2,000,000 d. P1,850,000 13-16: The net assets of BB Company have a book value of P300,000 and a fair market value of P420,000. Among the undervalued assets are the plant and equipment which have a book value of P200,000 and a fair value of 703 AA Company issues stock with a par value of P250 non P600,000 for the net assete of Dn' With complete solution required each no. 40 Chapter 13 13-15: MM Company issued its common stock for the net assets of PP Company in a business combination treated as acquisition. MM's common stock issued was worth P1,000,000. At the date of combination, MM's net assets had a book value of P1.2 million and a fair value of P1.6 million; PP's net assets had a book value of P650,000 and a fair value of P800,000. Immediately following the combination, the net assets of the combined company should have been reported at what amount? a. P3,000,000 b. P2,200,000 c. P2,000,000 d. P1,850,000 13-16: The net assets of BB Company have a book value of P300,000 and a fair market value of P420,000. Among the undervalued assets are the plant and equipment which have a book value of P200,000 and a fair value of 703 AA Company issues stock with a par value of P250 non P600,000 for the net assete of Dn

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