Professional Documents
Culture Documents
P incurred
the following costs:
Professional fees P27,000
Cost of SEC registration 12,000
Cost of printing and issuance of stocks 3,000
All the assets and the liabilities of Angela assumed to approximate their
fair values except for land and building. It is estimated that the fair
values of the land and building be increased by P130,000 and P80,000
respectively.
Problem F. X has 40% of its shares traded through PSE. Y purchased the 60%
non-traded share of X for P6,300,000. The Fair value of the 40% is at
P4,000,000. The Fair value of identifiable net asset and its carrying value
are P7,000,000 and P5,000,000, respectively.