This document lists corrections that need to be made across multiple pages of an accounting textbook. The corrections include fixing incorrect dates, amounts, inventory labels, and other details. In total, there are over 40 individual corrections listed that span over 30 pages of the textbook.
This document lists corrections that need to be made across multiple pages of an accounting textbook. The corrections include fixing incorrect dates, amounts, inventory labels, and other details. In total, there are over 40 individual corrections listed that span over 30 pages of the textbook.
This document lists corrections that need to be made across multiple pages of an accounting textbook. The corrections include fixing incorrect dates, amounts, inventory labels, and other details. In total, there are over 40 individual corrections listed that span over 30 pages of the textbook.
Page 8: Closing entries letter c: Branch Income Summary. 4,000
Income Summary 4,000 Page 19: II A balance sheet on December 31, 20x3 instead on 20x4. Page 63: questions 9 and 10: the intercompany profit deferred of P6,000 should be in the Home office column Page 69: No. 27 additional data Merchandise inventory, December 31, 20x4, P70,000. Page 70: Branch expenses should be P12,000 instead of P7,200. Page 123: A deferred payment of P20,000 instead of P25,000. Page 124: Consideration payable should be P100,000 instead of P81,818 Page 125: December 31, 20x4 Consideration payable100,000 Interest expense (10% x P100,000).. 10,000 Cash. 110,000 Page 125: The deferred payment of P20,000 instead of P25,000. Page 131: Illustration 14-16: on January 1, 20x4 instead of 2010. Page 237: Figure 15-13: Ownership Structure of RR Company before and after Exchanges of Shares Shares of Shares of RR Co. TT Co, (Legal Parent/ (Legal Subsidiary/ The Acquiree) % The Acquirer) % Stockholders of RR Co. 320 40% 128 40% Stockholders of TT Co. 480 _60% 192 / 60%* 800 100% 320 100% Fair value of net assets P 3,260 P ? Book value of net assets P 2,160 P 3,600 Fair value per share of stock ? P 30 * The number of shares can be determined as follows: 1. Before the combination, the shareholders of TT hold 192 shares in that company. 2. TT would have to issue X additional shares such that the 192 currently owned shares will represent 60% of the total shares outstanding. 3. After the share issue, the total shares outstanding will be 192 shares + X additional shares to be issued by the legal subsidiary-the acquirer) 4. Therefore, the mathematical equation to determine additional shares are as follows: 192 = 60% (192 + X) 192 = 115.2 + .60X 192 115.2 = .60X 76.8/.60 = .60X/.60 X = 128 Or, simply (refer to No. 2 above): 192 shares/60% = 320 total shares x 40% = 128 shares of TT to be issued. Page 239: Are there Non-controlling Interests in a Reverse Acquisition? Non-controlling interest is zero, if all of TTs stockholders accept the offer to exchange their shares in TT for shares in RR. If not all of TTs stockholders agree to the exchange of shares, TT will have non-controlling interests that have interests in TTs legal entitys profits but not consolidated net income. In the above example (refer to figure 15-13), there are no non-controlling interests as all of TTs stockholders accept the exchange. Page 418: Questions 88-93: Finch total assets should be P1,220,000; Capital should P790,000 instead of P800,000. Page 436: Questions 19 to 22: On May 1, 20x4 instead of 20y0. Page 474: (E9) and (E10) should be Beginning Inventory instead of Ending Inventory Page 484: (E7) and (E8) should be Beginning Inventory instead of Ending Inventory Page 494: (E7) and (E8) should be Beginning Inventory instead of Ending Inventory Page 553: Unrealized gain (downstream instead of upstream), P12,500; Realized gain (downstream instead of upstream), P1,875 Page 565: Unrealized gain (downstream instead of upstream), P12,500; Realized gain (downstream instead of upstream), P1,875 Page 611: questions 21 to 23: On January 1, 20x3 instead of 20x4 Page 630: questions 22 to 26: 2nd par. - Company for P120,000 instead of P1,20x2. Page 632: Questions 29 to 32: Should be 20x7 instead of 20x6 and 20y2 Page 728 and 729: fair value or premium of call option should be P100 instead of P400. Page 738 and 739: fair value or premium of call option should be P120 instead of P480. Page 740: No. 2: pound should be FCU. Page 740: No. 3: euro should be FCU. Page 756: to Australia should be foreign country; event that the US dollar should be peso; 06 should be x.6