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Required: Compute for the following: Problem 6. Arandilla Company acquired 70% of the
a. Total assets on the separate books of Beta outstanding ordinary shares of Moscoso Company for
immediately after the acquisition. 640k P390, 000 cash. The consideration transferred includes
b. Total assets on the consolidated financial control premium amounting to P43, 000. The book value
statements immediately after the acquisition. of Moscosos net assets is P400, 000. Moscosos only
880k over or undervalued assets are land that has a book
c. Total liabilities on the consolidated financial value of P200, 000 and a current value of P310, 000.
statements immediately after the acquisition. Non-controlling interest is measured at fair value.
650k Required: Compute for the following:
Problem 3. On January 1, 2015, Sabina Corporation a. Goodwill to be reported in the consolidated
purchased 75% of the common stock of Argo Company. financial statements. 0
Separate balance sheets for the companies at the date b. Non-controlling interest in the consolidated
of acquisition are given below: financial statements. 153k
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