Summative Problems PDF

SY20-21# 1st sem: ACTG317_- BSA 31 Biz
Midterm Summative Assessment: Problems

Question 1 of 70 1 Poin
Pita Company acquires a controlling interest in Soda Company in the open market for Php72,000. The Php100 par value capital
stock of Soda Company at the date of acquisition is Php75,000 and its retained earnings amounts to Php30,000. The market value
per share of Sode Company is Php120 per share. In the consolidated statement of financial position on the date of acquisition, non-
controlling interest would show 2 balance of —
Select the correct response:
Php24,000
Php21,000
Php10,500
Php18,000
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30,000 (a
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[yh 120,000 i
|. The realized mark-up on br anch inventory anew i

000, while He ending balance of unrealized mark-up on branch inver
toPhp}4, At
' to Php1,500,
amounte d |. ne
~_» _Php40,000
- Php60,000
@ Php?74,000
wmative Assessment: Problems- ‘$¥20-21_1st sem: ACTG317- BSA 31 - DLSU- D College/GS me ae ree
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Question 4 of 70 | — 1 Point
Zealby Dora Company operates retail hobby shops from the main store and a branch store. . Merchandise is shipped from the main
store and to the branch and billed to the branch at an arbitraty 10% mark up. Trial balances of the main store and branch as of
December 31, 20x5 are as follows:
Debits: Main store | Branch

Cash Php1,200 | Php80o
Accounts receivable - net 160 -
Inventory - December 31, 20x4 . 2,800 2,000
Building - net 48,000 14,400
Equipment - net 24,000 9,600
Branch store 25,840 -
Purchases 192,000 8,800
Shipments from home office = 79,200
Other expenses 12,000 5,600
Total debits Php306,000 Php120,400
Credits:
Accounts payable Php12,000 Php400
Unrealized inventory profit 7,360
Main store 24,000
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orie s, oh hind at December 31, 20x5 at the mMain store and
a bran vi hare F hnp2, hal pnp aad respectively. The December 31,
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= branch p120
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includes mercha
Parerndise from
purcha sedfrom| i pasos
outsiders. i
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the December 31, 20x5 branch niccity
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mative Assessment: Problems - SY20-21,Ist sem: ACTG317~ BSA 31 - DLSU-D College/GS
SALAS UAE
The branch reported the following:
Beginning inventory - home office Php10,000

Purchases 80,000
Purchase discount 2,000

Shipments from home office 70,000
Freight in - home to branch 1,000
Freight in - supplier to branch 500
If 20% and 10% of the merchandise available for sale that is acquired from home office and from outside supplier, respectively,
remain unsold as of year end, how much is the cost of goods sold per branch book?
Select the correct response
Php64,800
Php135,450
Php139,050
Php127,600
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| Bond issue cost 24,000."
"Finder's fee | ) 30,000
Accounting and legal fees 40,000.
The fair value of net assets of Ganda Korin amounted to Php,5,000,000
What is the total effect of the acquisition on the retained earnings of Ganda Ko?
) Php170,000 decrease _
Php150,000 decrease
Php150,000 increase
Php170,000 decrease
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On Dece ber 30 of the curre at year, ne nome ofice bt
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_ Deecember 28 of the se ame year, ele clkatel all hint ag '

of goo‘ ds availad ¢ for sale of Presi) 900 mre the fifitr
"
follow: "
| Sales ie
|
| Sales allowances |
Sales returns
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If the branch Sells the goods at billed price plus 30% eerie. ae much i is the branch's inventory balance as of December 31?
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Php40,000
Php38,000
Php28,000
Php41,000
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Main store
Capital stock Bete TAT 0) Baty1 ECS

Retained earnings at 12,800 ee
Sales / 160,000
Shipments
to branch ¥2,000 : Ms i athe
Profit from branch 1,840 ae
Total credits ~—-Php306000 = Php120,400
Inventones on hand at December 31, 20x5 at the main store and branch are Php2,400 and Php1,440, respectively. The December 31,
20x4 branch inventory includes merchandise purchased from outsiders of Php240, and the December 31, 20x5 branch inventory
includes Php120 of merchandise purchased ifrom outsiders. wl
Based on the same date of Zealby Dora, the total assets of Main store in its separate financial statement is -
Php101,600
Php101,480
Php34,240
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ncial position for, Puro Corporation and Sato Company on December 31, 2015, are given below:
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| hr . Puro ti ‘Sato
ry | Php4zg00 ' PhpP54,000

60,000 "36,000
300,000 "150,000
156,000 ape
~Php558,000 —-~ Php240,000
- Php108,000 Php36,000
120,000 54,000
180,000 60,000
150,000 90,000
Php558,000 Php240,000
i fetghale one dy Ue ;
ato Company on December 31, 2015, for Php 156,000. On that date, Sato Company
0,000 more than the book value shown, while its long-term liabilities has a market
at
dl
Php558,000 | | _Prp240.0 000

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Select
. the — response:
5S pagoan eno : ae
- > Php369,000
Php450,000
Php480,000 ea
< Previous | Continue
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i bi anuaty 1,201 5, Blue George conway purchase the net eisai of the Pink Contad ténibany by issuing 100,000 iares of its
Php ‘par value stock when the fair value the stoc was Php6.20. | Itwas further agreed that Blue George would pay an additional
' | | amount on. January 1, 2017, if the average i icomie during the 2. year period of 207 5-2016 exceeded Php80,000 per year. The
"|ii expected value: inthe consideration was caeculated as Php 184, am ; the measurement period is one year.
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I_ Based hie data of Pink and Blue, shit that on August 1,201 5 the Ronn consideration happnes to be Php1 70,000, what
aroun i mrebe repped as goodwill on the said date?
Ht | |
oat me ett response:
| i
) Zero
sessment: Problems
- SY20-21_Ist sem: ACTG317- BSA 31- DLSU-D College/GS ||
20-218 1st sem:

| I Hil
n January 1, 2015, Blue George Company purchased the net assets of the Pink Conrad AN by issuing 100,000 shares of its
hp par value stock when the fair value of the stock was Php6.20, it was further agreed that Blue George would pay an additional
mount on January 1, 2017, if the average income during the 2-year period of 2015-2016 exceeded Php80,000 per year. The
pected value of this consideration was calculated as Php184,01 10; the measurement period is one year.
based on the data of Pink and Blue, assuming that on a} 1, 2015 the contingent consideration happnes to be Php7 70,000, what
pmount will then be recorded as goodwill on the said date?
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Php86,000
Php166,000
Php270,000
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‘Home Office "Branch

70.000 "600,000
a [Beginninginventory . | me ygiga® ed 20,000
| | ‘Purchases
li | “500000. 30, 000°
im "Shipments to branch II ||
"450,000_
:
1; “Shipments from home office .

nM en '
py Ending
| yal
pha ; f 540,000
|
ventory _ 5000):
H 50,000
f
‘Unrealized movkup on branch inventory. an doo) °A
Realized mark-up on branch inventory ' ia
| 86,000 »
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How much is the beginning inventory in the combined

statement offinancial position?
Select the correct response: | " i .
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21,500 Pee
, 23,500
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ve Assesimen Problems - ‘S¥20- @) _|st sem: ARETE BSA 31 - DLBU-Pp atege'Gs
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— mane Assessment; Problems
i eso Beh Pas itt sph cnn rch Qa rp it co of Pg Tight cggeste th theeshandive normally edt POO when shipped th
Hy oe Compute the exdess freight
on transfers of merchandise:
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mative Assessment: Problems - SY20-21_Ist sem: ACTG317-BSA31-DLSU-DColleg/GS
SY20-21' 1st sem: ACTG317 -

Question 14 of 70 1F
On June 1, 2076, Cline Company paid Php800,000 cash for the assets and liabilities of Renn Corp. The carrying values for Renn’s assets and liabilities on June 7
2016 follow
Casn 150,000
Accounts receivable 180,000
Capitalize software costs 320,000
Gooewil 100,000
Liabilities (130,000)
Net asseis 620,000
On June 1, 2016, Renn's accounts receivable had a fair value of Php140,000. Additionally, Renn’s in-proce:
value of PnD200,000 All otner tems were stated at their fair values. On Cline's June 1, balance sheet. now
n22n ANN
PoosUS
>
Pnp120.000
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Piet Lory sem: ACTG317. SED
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hare ofce anaa benecrm the following amounts:
Home Office
Pnpsdo,o00 Ht
ctl cra | ! 30,000 | !
sues I qapo00 he lea fonoo
andexpenses | 80,000 tala 0.000
rd tte t
Weyry dl et
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ed mark-up on branch iracninay orcures te Php 4 (O00, while endingbalance ¢ of un nn ea mark upe on branch inventory amounted to Php7,500.
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men is the eat in thecombined fi “ clal stater ments? | at nhs
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Pnp588500 |
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¥20-21¥1st sem: ACTG317 - BSA 31
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idterm Summative Assessment: Problems i
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Question 16 of 70 || I !| !
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Bete Ko, a domestic corporation acquired My Baby Love for 1,176,000, owning 70% of the latter's outstanding ofdinary shares, Book value of net assets acquired
amounted to PhpT,350,000. How much is the goodwill or bargain purchase gain if the fair value Of net assets of My Baby Love approximates book value, except
bonds payable, the fair value of such is Php20,000 lower than its baok value, and equipment thatlhas a fair value highet by Php 30,000 than its book value?
hey (ale ila i
Select the correct response. hi ‘| | : brig hls |
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Php280,000 hi | i ‘ji i
| ph he tt
Pnp320,000 by il | ena
Pil |
ela |
Php270,000 | ae
Pnp380.000
| > Continue >
tive Assessment: Problems - SY20-21_1st sem: ACTG317 - BSA 31 - DLSU-D College/GS
20-21" 1st sem: ACTG317 -

lidterm Summative Assessment: Problems ri lt
Question 17 of 70 ilps ef fa m
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Bebe Ko, a domestic corporation acquired My Baby Love for Php980,000, owning 70% of the latter's outstanding ordinary shares. \Book value of netassets acquired
amounted to Php1,360,000. How much is the goodwill (bargain purchase gain) if the fair value of net assets of My Baby Love is Php1,350,0007
Select the correct response. !
Pnp50,0G0 | a
Pnp380,000)
Pnp370,000)
Pnp40,000
Midterm Summative Assessment: Problems tn Peta
Question 18 of 70 Poe 1 Poin
Bebe Ko, a domestic corporation acquired My Baby Love owning 60% of the latter's outstanding ordinary shares Book walue of net assets acquired amounted to
Php 1,350,000. The fair values and book values of each item of the acquiree's net assets are significantly the same, except bonds payable whese premium on bonds
currently recorded is lower than that of the fair value of bonds by Pnp20,000. If the ddl resulted to goodwill under partial goodwill approach amounting ta
Php78,000, how much should be the noncentrolling interest of My Baby Love?
Select the correct response.
Pnp584.000
Pnp540,000
Pnp532,000
Pnp520,000
ative Assessment: Problems - SV20-21_1st serm: ACTG317 - BSA 31 - DLSU-D College/GS
20-21! 1st sem: ACTG317 - BSA 31

Question 19 of 70 a 1
Zealby Dora Company operates retail hobby shops from the main store and a branch store. Merchandise is shipped from the main store and to the branch and
billed to the branch at an arbitraty 10% mark up. ‘Trial balances of the main store and branch as of December 31, 20x5 are as follows:
Debits: Main store Branch

Cash Php1,200 Phpeoo
Accounts receivable - net 160 7
Inventory - December 31, 20x%4 2.800 2,000
Building - net 48,000 14.400

Equipment - net 24,000 9.600
Branch store 25,840
Purchases 192,000 8,800
Shipments from home office - 79,200
Other expenses 12,000 5,600
Total debits Php306,000 Php 120,400
Credits:
Accounts payable Phnp12,000 Pnp400
Unrealized inventory profit 7,360
Main store - 24,000
Capital stock 40,000
Retained earnings 12,800
Sales ‘ 160,000 96,000
Shipments to orancn 72,000
Profrt from orancn 1,840
Taral rrecitc Panana ano Prnion 4nn
native Assessment: Problems - SY20-21_Ist sen: ACTG317 - BSA 31 - DLSU-D College/GS
VI WT fvth
$Y 20-218 1st sem: ACTG317 - BSA 31

Main store ; feel da 24/000
Capital stock 40,000, | atl
Retained earnings i 72,800 My i |) 4 |
Sales ie 160,000, |, ||| | 96.000
Shipments to branch | 72,000 pl thea PS |
Profit from branch : 1940 Nj .
Total credits Php306,000 Php 120,400
Inventories on hand at December 31, 20™5 at the main store and branch are Php2.400 and Php1 440, respectively. The December 31, 20x4 branch inventory
includes merchandise purchased from outsiders of Phe240, and the December 31, 20x5 branch inventory includes Php120 of merchandise purchased from
outsiders.
Based on the same data of Zealby Dora, the combined cost of goods scld amounted to -
Pnp206,960
Pnp201,760
Pnp194,520
© Php201,720
tive Assessment: Problems - SY20-21_1st sem: ACTG317 - BSA 31 - DLSU-D College/GS
Y20-21¥ 1st sem: ACTG317 = BSA 31 Ss =

lidterm Summative Assessment: Problems
Question 20 of 70 1 Poi
Roxette Corporation regulary ships merchandise to tts Boracay branch with a mark-up on cost
of 20%. During the current year. the head office of Roxette ships merchandise to Boracay branch
with a cost of Php20.000. The extry zn the books of Boracay branch would include a
Gebit to home office current account for Php2?4,000
Gebit to shipments from home office account for Php24.000.
credst to shipments to branch account for Php?4.000
credit to mvestment
mn branch account for Php24.000.
< Previous
tive Assessment: Problems - S¥20-21_1stisem: ACTG317 - BSA 31 - DLSU-D College/GS
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ACTG317 - BSA 31 Si
lidterm Summative Assessment: Problems |
| iE ich atl ta ina Mm sult
Question 21 of 700 Pe fg
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Tillman Textile Company has a single branch in Bulacan. On March 1, 20x4, the home office accounting records included
{Inventories — Bulacan Branch ledger account with a creait balance of Php9,600. During Match, mefchandise costing Ph iG) 800 was'shipped to the Bulacan B
and billed at a price represeriting 2.40% mark up on the billed price On March 31, 20x4, the branch prepared an income st fement indicating a net lass of Phy
for march and ending inventories at billed prices of Php7,500. Whatis the amount of adjustment for Allowance for overvalua ionof inventories to reflect the
branch net income? | ped hi CM ie ry
| Select the correct response: po A ee
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Php 11,777.10 debit ght ff il
() Php13,800.00 credit Hl |
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is i
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! Php11,799.90 debit : i il Ha
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fi
Php13,860.00 debit |I
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Midterm Summative Assessment: Problems \yit

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Question 22 of 70 e | | |; i | | 1 Point
| ||
|
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The allowance for branch profit inventory overvaluation has decreased by Php-400 Mark-up on sh ne!
of merchandise ito branch is 10% on cost. The branch has cost of goods available for
sale amounted to Php360,000, 25% of which remain unsold at year-end which is 20% higher compared to last year. The branch also acquire merchandise from outside supplier. If the branch’s
inventory beginning from outside purchases amounted to Php31,000, the ending inventory to appear in the consolidated financial statement would amount to-
Php67,000
Php75,000
Php$6,400
Php90,000
ems + S¥20-21_1st'sem: pera ¢ BSA 31 - fl etaand
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30, ania anda corporation assumed all assets and abies of
ofDera oe cm il pecona cen wal balances are as follow: i|
ih | | i re
Li i | | :
aH Mie ya nine Ganda La
eR
Dore |
A TAPE EP ae | / Book ih Fair
“Toulasseas ___Png300,000 -_ Php290,000 | Php19,000 Php12,500
Totalliabiiies 30,000 ' 34,000| 1,500 1,300
Ordinary'sharés, Php20 par 200,000 i tS 20,000
Share premium ‘10,000 | | 1,000
Retained earnings (Deficit) 60,000 ' (B,500)
if Ganda paid cash of 10,000 and equipment with a fair value and book
value of 30,000, and 28,000, respectively, how much is the goodwill
purchase? of gain on bargain
Pnp28,800.00
Php26,800.00
Pnp22,500.00
Pnp20,500.00
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he t branich reported a cost of si uF Php 900. i | vet a1 |

“eipeties include Php2,000, depreciation expense al My anrare
f’ m the ome office's books.
Ie e ji!
Alli inventories of the branch are acquired from | home lhl tT sts bil
bi led price. The investment in branch and home cffice accounts have an opening balance of
Phip100,000.each. How much is the ending balance ‘of |investment branch Bcapunt?
ete aA aye
Select the correct response: a) "I ber py
“ pnp9e, 200 7
Php134,800 . M
Php107,800 >
Pnp143,800
oe
native Assessment: Problems - S¥20-21_1st sen: ACTG317 - BSA 31 - DLSU-D College/GS
Y20-21¥ 1st sem: ACTG317 = BSA 31 SA

Question 25 of 70 1 Poi
Puzon, Inc., purchased 80% of Santos Company's outstanding common stock for Php156,000, Pnp36,000 above the underlying book value on Jenuary 2, 2015. The
fair value of Santos’ net assets approximated book value. On the December 31, 2015 consolidated statement of financial position, non-conirolling interest (NC!)
should be reported et
Pnp45,000
Pnp25,200
Pnp39,000
Pnp36,000
N20-24_13t ser: ACTG317 - BSA 31 - DLSU-D College/Gs
st sem: ACTG317 - BSA 31 a

jeson 260170 Pl r vip) ha
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‘office and its branch feported the following amounts:
Pa My | a ! ws | |
ae ie WME Heyl te fred ' Home: Office

sal Ee Php200,000 Pnip0,000 | Onn
“Costofisale
call Wea
s! my
| 60,000 aa500 | | | Py el
VEXpenses 4001.) rel | 80,000 | 32000 |) |
| Ending inventory _ ri
12/000 1,650
regi RP es | rT rao f '
fe Cr ae ke ee My hid |
ore eee He pe
ory tial ath “il y wil
ye bital
fone
rm
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a
1/3 of the cost of ending/btanch inventany inthe point of view of home| office,
i |
is acquired fir om| heme office.| The ending

bo : .
inventory in the combined financial.
statement showed Php13,500. Half of the branch's cost of goods sold per GAAP were oq
P i. uired fron home office,
Jae dita : : Jha ! |
The combined icost of goods available for sale amounted to
Pee AOL |
Oy jh
the correct response:
Select |
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! 103,650 |
i |
108,000 hy
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108,150 i
ee alt daha
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eee hel e am |
103,500 Eli peu Mae l | |
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ative hase Problems - $¥20-21 Ist sem: ACTG317- BSA 31- mr} Callege/GS t |
The rectoffice and its branch,hee ited the following amounts:
| Home Office Branch

Total assets, net Php 500,000 Php 150,000
Total liabilities 30,000 30,000
Revenues 120,000 60,000
Cost and expenses 80,000 1 40/000
The realized mark-up on branch inventory amounted to Php14,000, while ending balance of unrealized mark-up on branch inventory amounted to Php1,500
How much is the opening balance of the investment in branch account in the following year?
Select ihe correct response:
Php1¢c0,c00
Php120,c00
Pnpga,5c0
Php154,000
mative Assessment: Problems - ‘Sv20-21 List serm ACTG317+ BSA 31- DLSU- Dia eset Hh | Ih ety
ti h it Ph
l
yee:
ACE | oath \
| Hi
HN | win
i
\
Maleviedl
Ni ey ad
|
thy
|
|
|
ll? ' |
|| | |
iyi |
i " i i Wi ee MEE fa
The home off ioe reprtedd the following data suring ne current year, ill ; | \| ly hi i i i
Me | | Hi lil, | Hn by
Hunt | | | | i Ho neice An i) ii li Branch
ii Sales. WA Hl ie iN if |), 600,000
\ Beginning inventory hy | Hi | , Q I pity 3 20,000
; Purchases Wy | hit i }000 | | 30,000
|) Shipments to branch 450,000 | Iu!
Shipments from home office an \] ; | ly. 540,000
Ending inventory 5,000 50,000
‘Unrealized mark-up on branch inventory 92,000
Realized mark-up on branch inventory | 86,000
How much is the ending inventory in the combined statement of financial position?
55,000
46,667
49,000
61,000
mmative Assestmenti Problems - sv20, 21_Ist sem: ACTG317 - EBA 31- DLSU-D Cag
iN il fay Wh ffi il |!
1 I i
ane Bint Assessment: Problems Wa

an il Nt tieMf
Fe ui bl il}
| Question a of70. 1 Poi
\ Bats, ine, a rly corporation: formed and organized because of the recent consolidation of Ml Ine. and JU bess ‘shall issue 10% participating preference shares with a
pat valuélof.Php7100 for lil and JU net assets contributions, and commons shares with a pan yalue of PhpSo for the difference between the total shares to be issued
and the peeve shares to be issued. The total eas to be issued by Bats shall be equivalent to ern annual eamings capitalized at 10%. Relevant data on II
| and.JJ follows: her jy
if \ | I ; be he
‘ h i il | ad Pie u
Total assets ky Iai 720000) 927,600 .
Total liabilities 432,000 . 345,600
Annual eamings (average) | 46,060 \ 69,120 ‘
The total preference shares to be issued and the amount of goodwill to be recognized by Bats are:
Select the correct response I
8,640 and Php288,000, respectively.
Continue
he time it i acquired by Bush Col:| |! | I
| | "|
| 36,000 |
457,000 ‘Mi hi iat |
Wy
120,000 oly i
696,400 Tea 1 Ni
i We ATA a
350,800 HF dill Uh
i oy | | A brie
rf r Hye | |
Las Betssof yw are mwas ett fai m eves or Inventories and ple. propery, endequimert were
ively ‘hl [ he
onan WG iy
yes i heal i
i| hy (ely :
pity arising: rom Ppt! re: ti ithe ‘fair value anmourtng toPhhp 000 and such amountis considered areliable measurement.
thi vansacten ese m i, a |i
( Gooelwill 100,000 0, 000),
© Total Php800,000 fh Phpgoggoo
| On June 10, 2013 Jenna's inventory has a fair value of ai ooo ad the equipment is worth Php5SG0,000.
How many shares of Jenna's outstanding shares were bywthed by the s non-controlling interest?
_ 4500
_. 7,000
“5 O00
2,500
WN i
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ay
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y i Hr i Mi, " i Mk Hh nm \
il i itt 4d
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=) hi rh ie id i"
| ihll titMir.
feime i Mi ‘ Meh a
iy
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:
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i nn
|
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|
Equpren{ ‘ll | 40,000

Discount on bonds payable “110,000
, Treasuty shares, Php2per share
aa m | 5,000
Investment lin Sill
roma sh i| Me 442.000 is
(Non-controlling interest 238,000
Whatis the total fair value of the subsidiary (Sill comoany) i a eequisition ‘date?
"Select the correct response:
) 686,000
(> 595,000
) 736667
1 “) 749,000
: Cee del
ative Assessment: Problems - SY20-21_Ist sen: ACTG317 - BSA 31 - DLSU-D College/GS m
{20-21* 1st sem: ACTG317 - BSA 31
Question 33 of 70
Dn November 30, 2078, Ganda Corporation assumediall assets and liabilities of Dara Company: The pre-combination trial balances are as follow
Ganda Dere
Book Fair Book Fair
Total assets Php300,000 Php290,000 Php79.000 Pho12500
Total liabilities 30,000 34.000 1,500 1,300
Ordinary shares, Pnp20 par 200,000 20,000
Share premium 19,000 1,000
Retained earnings (Deficit 60,000 3,500
} of 6,000, and equipment with a fair value and book value of 13,000, and 15,009, respectively, how much is the goodwill of gain on bargain
Pre "0.20090
Prp2500 00
mmative Assessment: Problems - SY20-21_1st sem: ACTG317 - BSA 31 - DLSU-D College/GS
20-21! 1st sem: ACTG317 -B
Question 34 of 70 |
The Boy George Company acquired the net assets: of the Girl Conrad Company on January 1, 2075, and made the following entry to record ihe purchase
Current assets 700,000

Equipment 169,000
Land 50,000
Buildings 300,000
Goodwill 100,000
Liabilities $0,000
Common stock, Php] par 100,000
Paid-in capital in excess of par 520,000
Assuming that additional shares on Jenuary 1, 2017 would be issued on that date to compensate for any fall in the value of Boy George comma
setiiement would be to cure the deficiency by issuing added shares based on their fair value on January 1, 2017. The fair price of the shares o
Wihatis the amount of paid-in capital in excess of par on January 1, 2017 immediately after the additional! shares were issued?
Pnp520,000
Neuen acaul ined all net assets and Vie tiltties of Globe Tattoo Corporation by issuing shares ot its common stock on. january 1, 2011. Parti al balance sheet data
ne businessBiccombination (at book _ a immediately following the combination is provided: |
Zyxel | | | | Globe ea Consolidation

65,000 | | Ih) esa) Ph 99,000
72,000 ‘| | | 20,000 Mita 94,000
33,000 | | | 45,000 88,000
puiings and equioment (ime 400000 i il (180,000 i 650,000
Goodil
Vil i
vdta Miiy PM iy | | Coo E
Total assets vith bronood |) Vi | | 20,000 || | ?
" 1
“Accounts a syabie ey tt 50,0000 25,000 75,000

Bonds payable Wey me mtg 250,000 110,000 | 350,000
nau
‘Gomi mon ‘took, Php2 par
! mop
: | 100,000 25,000 160,000
aid.n capital in excess of par
:
ao
fy ai
|| 68.000 20,000 245,000
‘Retained earrings wn. Nay ti) 105,000 70,000 ?
Total liabilties and equities s70.000 240,000 ?
Wher was the fair value of the net assets heidd by Globe Tattoo at thedate of combination?
: i |
Select the correct response: 4 ba
Pnpi15,000
Pnp227,000
Pro270.090
Ae TIER Solas Pree stoyanen
Puestion 36 of 70 |
Fhe entrée Corporation decided 10 open 2 branch store in Manila. Shigimemts of merctlandise toith Ibe totaled Php32400 which included a 20% mark-up an cost. All accounti
fecords are to he kept at the hame office The branch submitted the following redort ee ns ‘o erations for ne period ended December 31, 20x4
| |
‘Sales on account Php44.400

| Sales.'on cash basis 13,200
) Collections of accounts 36,000
| Expenses paid 22,800
| Expenses unpaid 7,200
| Purchase of merchandise for cash 15,600
Inventory on hand, Decemiber 31 (80% from home office) 18,000
100
Remittances to home office
Row much is the ending inventory at cost?
Pnpi2,000
Pnpi5,000
Pnp75.600
None of tne cnoices
Conti
iI vl ki il
. i 2014, se Bch Get ager: meant im the accounting recon b ote adenis office ol stiri Cheapaty shies a debit tain of Pp, 500. "You ascertained
the following facts in analyzing th
| ha ns Tn ae aoe jet mu
[th
31, 2014, fharchandise billedat PhpS, 800 was im transit fromthe home office te lthe raced ‘The nite avidin Fh is dived ‘by both the boene offfice and the branch.
branch had collected home office trade accounts recemable of Php560; the home office was wotihotitied | i i
2
e. On December 29, 2014, the home office had maileda check for Php2,000 it branch, atte seouat frihe ben office baidrecondedte chek aa debit to the Charitable Contributions Expense ledger account: t
branch had hot received the check as of Decemberr 31, 2014, itl
d. Branch net tacome for December 2014, was tecorded erroneously by the home office at Php$4i} instead ewan ‘The dredit ilsineconded by the home office in the Branch Income Summary ledger account.
e.: On December 28, 2014, the branch had return supplies costing Php220 to the home office; the home office had not pale Hue of the supplies. The home office records acquisitions of supplies in the Office
Supplies ledger account
£ Acquisition of equipment by the branch, Php].500. The equipment account is to be maintained in the home office books. ‘The hdne aff had sist been noted of the acquisition
g. Albeanch customer erroneously remitted Php],000 to the home office. The home office ded this cash collection on Ds ber 29, 2014. Mi hile, back at the branch. no entry has been made yet.
The unadjusted balance of the home office current account on the books of the branch as of December
31, 20:14;
1 |
Select the correct response :
Php53,180 ! !
Php51,180 en
Php49.180
48,620
« Previous ‘ontnue >
ir Rive Assessment: Problems « s¥20- 24 -Istse em: ACTG317 - BSA 31- DLSU-D College/GS i aca f
|
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rt ii
‘i ikiI ‘hyM i i\ , hw
{il Tf) Ia "i ayy \
VUE Weller) ohms) purchases ai oud shares af Jenna Company for Phpep per'share. Just enor to rhe nuraee, Jen Corgan has she fotonihg statement of financial
yl Mn 1 a Ir | | | it \ val| i { ihn i 1 \ ths! }
| "y fl Hi " r | a \ 1 ; | : re '
|| | | biabiities and Equity, | | ht ic wenn | nee

Padi Ro yey, NE Gurren liabilities | | | Prp250,000 Pi gan Mm at eth
} Php2o,o00 Ordinary shares, Php5 par | jd | | ooo Pe been ! {
inventory (Ob aid pic po ah ial taqyp00 i int ele ' it
Ekuomert Hh in 800,000 | Retainedeamings mk | 'g7q000 : Ms Me
Geddwill: th , |, TOG,go0 | Treasury shares, Pood cost | \ ' : \(25)000) |
Teta eo Phpgooogd | Tatal Phpg00.000 na
i " Vay (| ! | ‘ i
f | 1 i i : it 1
on, dupe 110), anya Jenna's inventory hes 2 airy yelueof Phpsago00 and the equipenent is worth PhpSoc acd,
har is the amount a goodwill‘to be reported in the consolidated statement oF financial position on the date of acquisition?
|
Satect the bic spond nM |
| i hn ‘lull
TAa W Ala ) F
a by
Php330,000) ies je
: rita dle |
| Prp28 800 |
meh
| Pnp450,000)
, Php288,000
me i Se wonanninnnana
| . sain La |Glope Tattoo
i
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uy Vi a
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ae
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ce em
i Hal Wy(ait) TLV We
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ie
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an
its= :
ji hobby's ARO ho han ete fi bench store. Merchandiseis shi norm thie, ly Git tha
sof theCmer stor at senor 31, 205 sees fol = - i a it i i
I ho I Hi Wyte Aen ee oe Ht Hi Mi ai
fa i hob I [ bd ede ‘ Hs i i!ia) whe IN it l i
: ! I i mip ath ' r / | | i ‘Ni it

fie hi hi
1 i | [Pian 200 ' "f IIe rite in! a Wy
| 160 aly Hg Vi me iy ‘HI | een
| | t Md H a | te
(i i Ki i ne
a
24000
Vt Ht ) } Wh
Shipments fo bral
Profit from brane
"Totalcredits
xen T To rr
a2 Wi - ui Mh N SIN \ i
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Hi| a ait iHA
3) i i i it WN ft i Ry ‘ iuALNAA i
"a iymi niiiPer
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ate clad
1 WyWW i it a “iN hy
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hy | Wt ea nn
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SY20-21 ‘st 1-10 medi en SNeON Es |:a iy i TE CBE
Zeb\by Dota Conn ireta rrteoen chery a L A
balan Pat Drea ct

WH i! '
iM 9.20 Mh wit
Vi if
na (iil i
Lf eee
| ii
i
SY20-21_ist sem: ae ae os Pee ge rete
wl
— | —
|
Weyl
| ir WM1anen |i \:er
f r
i
i a Mi
M i | K |
l m n| i inHay
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i
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t |
rit
ny tes iit
kh iin, in! \
ii) '
hand atDedernbier 31, 20x65 it the ‘ a a teeLeth Ny the: December 31, 20x4 branch inventory ry includes
eee fom outsiders ee , and the Decent v9 picesnitty merchandise purchased from outsiders.
Cy. Pnp2h2,seth
“» Php212,800
ive Assessment: Problems - SY20-21_1st sem: ACTG317 - BSA 31 - DLSU-D College/GS
idterm Summative Assessment: Problems
Question 43 of 70 1 Poin
The consideration transferred by the acquirer amounted to Php790,000 fer 70%, and the fair value of subsidiary attributable to the non-controlling interest is Php355,000. If
he bargain purchase gain recorded under full goodwill is Php5,000 with an excess for allocation attributable to parent for Php160,000, what is the bargain purchase gain
ander partial goodwill?
Php5,000
Pnp5,000
Pnp15,003
Pnp20,000
ice od a sem: ACTG317- ciel
i VAHL Ali
Wi Ue
ii) I I I i i
Th ith My 1
Way
Mit i arene i
i fh |i {, A ik he
i 4 i i i Mt Hi Hi |
i, i a i‘fh ata
id
' ai ‘
uy
Heda hpi!
H , Ht ! li ‘| yt lyon bi
ay en E I \
‘Appa That addtional shares on January 1, 201 Fiwou i be issued ori that date te com ate for win fall in the ie of Boy George common stock below Php716 per
|. Share. The setilemert would be to cure he deficiency by sein added shares based ihe on ir value on January ‘1, 2017. The fair price of the shares on January 1, 201;
ht wee Pp || : ‘hho
| ce ‘iIe
“760,000
700,000 -
60,000
sative Assessment: Problems - S¥20-21_1st sem: ACTG317- BSA31-DLSU-DCollege/GS)
|
yA
lidterm ‘Summative Assessment: Problems
Question 45 of 70 ‘i i ied me 1
On December 31, 2014, the Branch Current ledger account in the accounting records of the home office office of Air Rica Ceerpma shows a debit balance of Php35,500. You ascertained the followm
facts in analyzing this account: Loy |
a. On December 31, 2014, merchandise billed at Pkp5,$00 was in transit from the home office to the branch. ‘The periodic inventorysystem is used by both the home offfice and the branch.
b_ The branch had collected home office trade accounts receivable of Php360; the home: office was not’ notated, i
c. On December 29, 2014. the home office had mailed a check for Php2,000 to the branch, but the accountant for the home office had velar the check as a debit to the Charitable Contributions
Expeme ledger account; the branch had not received the check as of Decemberr 31, 2014. {
d. Branch net income for December 2014. was recorded erronecusly by the home office at Php840 instead ofPhp4g0. The helt was recorded by the home office in the Branch Income Summary ledg
account.
e. On Decem! 28, 2014. the branch had return supplies costing Php220 to the home office, the home office had not recorded the receipt ofthe supplies. The home office records acquisitions of supp!
in the Office Supplies ledger account.
£ Acquisition of equipment by the branch, Php1.500. The equipment account is to be maintained im the home office books. The home office had not been notified of the acquisition
g. A branch customer erroneously remitted Pp 1.000 to the home office. The home office recorded this cash collection on December 29,2014. Meanwhile. back at the branch, no entry has been made
yet
The adjusted balance of the reciprocal account on December 31, 2014:
Php50.180
Php54,480
Php55,980
Php56,980"
Y¥20-21_ ist sem: ACTG317 - BSA 31 §
Viidterm Summativee Assessment: Problems

il idlsbideissaeh tial | \
‘Question 46 of 70
i mi
i | \ i 1
_. of tel Pec yk ih bd
On the day of acquisition Sub Inc, had thefollowing assets - liabilities: | | he |
I | | "'Bookvalue || "Fair value

Current assets ia i gojo00, | 90,000
Plant assets (ner) ry | Ho ye 198000) 234,000
Liabilities pba ih _ 6.000) (36,000)
Pub Company paid Pnp405,000 for 90% of the outstanding voting stock of Sub. The partial goodwill in he consolidated statement of financial position at acquisition is
. | | ||
Select the correct response: .
) Phpi62,000
Phpi17,000
Pnpi 45,800
Phpi98,000
FcPees |
fi i ill
Ques! m1 47 of 70 ns |
ye
Tintin cma ven yet a's Wii! a ig bale

| shipments are billed with a mark-up of 2! i The tealized gross profit om the
| wl ij
Select the correct response: ap \ j i pd 1 |
' i Mf eye
(|) Fhp26.000. ne u i pet tal
| Jy Wo
“| Php30.800. pebey
1 ij
Mea ky i|
.) Php22,000. | 1
| |
Php26,300.
pesca ii I
ul a i | 1 Pe
nrad's et
i ee ih v
will
cS
vies
c ib il cre f ares of iits Php1 par value stock when the fair value
2 ) iF he /pverage income during the 2-year period of
ibe a I icing T
il
ih
fiol N
a ‘|
we |
ishing cHiailtigty st sda i ent farting ab ti dtd i
Midterm Summative Assessment: Problems | id{I | "WlPin aly is, | a itilbi it ii iiI Hg
aty wetal iy jail iy i i
ty
ll hvala vital ened hy I ify i | ‘ Nh Heil il ne Wu a ay ih Ho My.
Question 49 of 70
I
| 1 if |pi| | Hh i yl
ign ‘ \
a ih1 te
h \ athf ihi i) i i vi ; iV i Ne
f ft ht
ee -1Point
i i | (\ peel lt nh il i ih i vi bis hat
In a stock acquisition, 30% were identified as rerroonerdling interest anc llr La rier ul i
Ly the coll presented in seishciane 1 . vit ‘
statement of financial position is Pnp36,000 under full goodwill approach The identifiable netaasserbidk the nash 8 ve a fair Wal Le reater than its book value! py 20%. |! |
What
is the share of the nen-controlling interest in the panes bemesn the feirwalue-end boo| nie ear e'sret sset ire Pc pi kai emi?
Boppy f | iL il | \ it A I 4 I : 4
Select
the correct response. \ Pyieey i | Hey } Ij ij \ : i i ni i ite | a
j|o Gy
Dope
it/ I i [uje be
bly! (i Wi Wu| ty
Bey tg cy
ae th in
alt Pernt
ihe
pe ay
Int |
Prp36,000 | a by My ‘ily Mla Wl 1 ee a
.
PhpSt,840
iy
po Pb
Pee
HpiERE ben
bape,
hy
EN1 iEAU
Ht fe
i tH
{Mh ys
ar eanatlAStC oR
ma
FP
een ae
ee
| red a had hy hap | ay
riya, 1 pty gil aby T ("1 hi |) a ane pe alae
Php43,200 yy ii hi a lipmaicigiets ees aera
Phps4,000
Pa ne
a. cater eM
Hi
or
Question 50 of 70 in} ! |
—
| [Ny
i
i 1 Poi
Hub
Hn
All the issued and outstandin cormmign sto k of Mania Copaat 201 16h cd Php?00,000. The assets and liabilities of Manila
Company were: il \ |
Cash Hil
AL
Accounts receivable (net of Php25,000 slowialue for nub laccou
poll 1 Pi
il val Wil i ii ie
Inventory hi | |
Property anc equipment {net of Php100) podallowance forET H
qed i Weel We
Accounts payable/Notes payable \ i i ‘ | 1| | | |1 | 730,000
Pd wail Vy ||
Moat et i
iil
I
i i(l i i {i
Fy
Gn October 1, 2016 the fair value of the following assets were as follows:
Accounts receivable (net) 235,000

Inventory 130,000
Property & equipment (net) 400,000
There is an unrecorded warranty liability on prior product sales estimated Php20,000 discounted cash flow based on estimated future cash flows
Using the same information of Manila anc Makati, the amount of goodwill recorded in tne books of Makati Co, as a result in the business combination should be
Pro-O-
1
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date, Sato Company's property and equipment had a fair

p90, 000. All other book values approximated fair value. In the
a
a
wee
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igi lava tole Aa (
“All
TU
er hoi an tipi
| Hel | Hh
Wo oe " a We ‘ ' - oa 1 Poi
t fil | ‘
Bebe Ko, s domestic ‘corporation ‘acquired thts
t y Baby Love, owning 60% of the|latter's oustanding dntinitysheds Book’ ire of net assets acquired amounted to
np] 350, 000. If the goodwill under partial ‘goodwill approach amounted ta Prip36, 480, nay | ie? ig the fair value of er assets of My Baby Love assuming it approximates
00k value, /SxER bonds payable, the fair value of which is Php20, ad lower than ms book walt
| a | | | it
i Select the comect response:
4) Phip1/350,000 ea a | ee
+), Php1,370,000
|. Php1,430,800
Php 658,480
ea th pei SL ope We lay ; | | || tif i Iballcba 7 la Mi aa (i fi Nh ta M at a
erationacauited all the ais and dsbimned all est ities oF Papu i seer , H hi :e0ptow
mePA 7m ms mB
==
a rr mu yh : Mth Hi ! ih i wihrie Walli a
vod gt
' e we i." . I 4 i | ‘I ti iit i il ii i i
il | Hi hi! Mi
Mi)he ra
dpi
NG
it il Mi
| Prp7occo rah “hit Mii
La Le Ly a At
1 t L, ja La : | o a "300000 ‘kh iy I bs,i st eae I il Hite Me ait i Mi ii
chee ye \ i TH il
|e iL ‘ik in Oy mei ili at wen le ih mh
a ' aera - ; ‘t mh 7 1 il i\ i! Hi Hii, Witte! ihDh i Hn
yl! ae i in 409,0,000 EL al! ilHib ltt " aa hi

ee hy Le ang | ha tAin lle hgl
rit
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| it ilHeVi iag vil \ I
ten pt tlh nt ‘ i
ae
ih
A
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.
i
i
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il
le
Hi NN
Hy |
| Thefarvake ofPapussemana ai aroun elon | i i | I} » i i HN: ' ihi) il i'l fr vl |
| Woy : sow : \ / : Hh it '
iage ithe poten
ae "arent | tito Oe
f i I" te ! ill A 4 io q he any
Assets Hy i Hh 'Prpt800,000 :
Liabilities | | ela. __186,000 .
Select the correct resp
‘. Phpit70,800
yy Hil iM ellenhi ,ts
oy
PEM
i i r I a| | 7 | 4h He | Pe me
Assim ten Pps land ries a provisional valle of Pre s00 HD and was discovered iene on neie Dao, the fair walue of the land as of acquisition date is Php520,000
bal i ' ? |1 i. | Hi ; ii il ' ol '
Steg te conect response: eg . ve ay i oy | i . |
: his rye \ ist i
|) Php170,800 Fi I ‘
| ee i
: vis |
“\ ‘Php190,e00 ae A | i ty
i ee ee
: : ie Hist He]
) Php210,800 ee
| ‘or re
Php150,600
Pep
oT ye eh mi rentl a
ae i en I et bye EW hpyy Pe Te peat!ERNE Wl
‘a jomestic corporation, saniirery tay nhorts 60% 0 nb dete oe tion, ‘Assume th shames net assets of the| acquirée is
a yeaa its sy far value, the} ean of Fihancial Posie Prion nai vr combination areas follows: es Mi Bi taal
WAL i MEd yy
ro te Be a lit [. | | | Le | i. Maat i Hh ‘i Visi ple Mp J Hah
i Tegel
! : I i Ve I | Hi Bebe Ki | AR eH "My Baby Love ow wre
if | ; | : |
ri 500,600" r \ i i
eo | 300,000 7
in foe hig Bt 4 i hi ‘5po0000 |.) | 2.500000",

Current latices Lae Te ee
| Nonturrert liabilities * a iy " | L 800/000 mT" dea 000
| [Senoseocapea a0 ee
R000
"250,000
ire ci springs | Poogeg ee he i eer
if Ce eal Mii ; jalllys 3 hs :
; HE Pejcuryg le |
flat tl Wye cil |
1 Uli fl i i Te ; | fr
ty " be il i
ra \Nohicontrlling ierest haga fair’ walue of Pip’, 180, 600, an sonnel premium emounted To Php1 50,000. How much cash should Bebe Ko pay to the former shareholders of
My Baby Lowe i itp lof the: iocahereibicns includes
| Bebe Kal "6 ordinary shares with a fair value of Php1,500,000.
i {ul Pi dy id ‘| ili, il | aly i . :
Select the ¢
0 Php270,000
(Php 1,450,000
|| 0) Phpt70,000
nmative Assessment: Problems - SY20-21_1st sem: ACTG317 - BSA 31 - DLSU-D College/GS ae by
ie NE!
SY20-21# 1st sem: ACTG317 - BSA 31

Vg a oe tea
Bebe Ko, a domestic corporation, acquired My Baby owning 60% of the latter's outstanding ordinary shares. Assume the book Walue of‘ net assets of the acqui
approximately equal to its fair value. The statement of financial position prier to business combination are as follows: | 1"! iit i, |
7 pe Tee
Accounts Bebe Ko My Baby Love, i V1

Cash Php700,000 Php420,000,) 0 iy)" 0)
Non cash current assets 500,000 300,000 th 1
Noncurrent assets 5,000,000 2500000 |"
Current liabilities 150,000 90.000.
Noncurrent liabilities 800,000 480,000
Contributed capital 4,000,000 2,400,000
Retained earnings 1,250,000 250,000
Bebe Ko issued its ordinary shares 10 the former owners of My Baby Lave with a fair value of Php1.710,000. Acquisition related costs include accounting and legal
expenses of Pho20,000, and Prip30,000 share issuance cost. How much is the consolidated shareholders’ equity a1 acquisition date?
Php8,000,000
Php8,050,000
Php8,080,090
Php8,070,000
' Wymh Heil : ikry
Question 57 of 70
i nek | | |
ray
A GleE FTCA Ie
|, tok
“il m i | I |
Bebe Ko, a domestic corporation, acquired My Baby owning 60% of the latter's outstandin j ordinary shares. Assume the book value of net assets of the acquiree is
approximately equal to its fair value, The staternent of financial position priort busi combination areias follows:
\| Po arty | \ | mh
[isl lu
Accounts we | . [ty | | Ee lh Be be Ko hy | (My Baby Love
Cash oT" Brip09,000 Php420,000
Non cash current assets ' Foy | | 500,000. 300,000
Noncurrent assets of de eal 5,000,000 _ 2,500,000
Current liabilities ji Li 150,000 90,000
Noncurrent liabilities ii | | | 800,000 480,000
Contributed capital | 4,000,000 2,400,000
Retained earnings 1,250,000 250,000
Bebe Ko issued its ordinary shares to the former owners of My Baby Love with a fair value of Php1,650,000. How much is the consolidatec sharenolcers equity at
acquisition cate?
Pnp8,000,000
Pnp7,900,000
erpgoaimno
PrpS.650 000
a FT TT
oe ee TGC nc) ne
tall cee ae Pe a WT iy se, , ih iy 7" 1 Poi
i reat le fhe Pa it Wh At | WN |
i| yl yo
imination working paper at August 1, 20104for the | bons idate bi rh poo oF Philcorp. and sill Company is shown below. As of th
M Kn, sates ii tap of Sl re i on re t ade Pri Corp, to exercise control over Sill Company.
ne raat el ri(i) a
jh inte
talinexcessofper / ) IN . redid: We | ‘hat Ih ! I La
Retained earnings me fs in
"Other comprehensive income | i nel! er yal na : oh | | a
_ Inventories M ‘ “ fe " \ | {I Il Heal | N - i - by fi
_ Accumulated depreciation - Building i . \ 5 7 Hily ili i i 20,000 s lt |
Builaing . iy | ah . "hy » 10,00 kya
Accumulated depreciation -Equipment |) nf |, it 50000 blk
Patent “m : 7 | m1 | : a5 )O0 |
Goodwill i : |! / 85,000
Equipment an a 40,000
Discount on bonds payable | 10,000
Treasury shares, Php2 per share 5,000
Investment in Sill 442,000
Non-controlling iriterest 238,000
How many outstanding share capital of the subsidiary was acquired by the Phil Company?
Select tne correct response
enannn
iy lh
Ru
inh |
me
Peo
it H
ilvii!
At Mi|
a(t we
\ ss iM i" )
el AN
i|
ae i fhe Te
sun aire
h
ii
MARschon jana
thy
a i ii
di itsicolron
Nit Mi
iH ah
He
i Wr \ rh
| wi
4)
Mt
iy
am the combinatiooni is provid

Whit) want muta
| it are De
| a veg
HT i
Le 08 |
000,
i nk
1 0,000ti Ana l
i ja |
Invehtoty . la 5000 bea RT , “88,000

ala i
| Baling anai shilahen fia esji in 4 i I ohn ili hat "650,000
ht wi Hin thy L vr . | a 4 |Fal po pel
* ctl 3aqi ri \ Hh “th lf key ; I Is 7 ; HH " :
ot \adsets| ee iy Pk ay ji 570,000 | [ fokh oo i ee !

| | , rm 7 a i
boyy| hs el ghety yaii \ lieWE i | : IHy
r ii \ | ; ce
ep \ Why 50,000 | if | 35,000 volo, 75,000

lB yg TLE lt UE melt PT tpi et
able, 1 a i! My i 250000 ‘t b (1900)000,, “al 350,000
\.
(pane a lie yh 100,000 uy re | 25000 1 160,000
" Paid-in eicapita |iniexcess yt ofpar “
|) 65,000 | \ ti AL ry of ll aman
HL
245,000
| Rexaines eatrings wees, “e500 a ih lk 7000 ?
Total Viaitnies
esa equities: | , iby ' Fl ‘Ve 249,000 2
kal ii i i
ott Mors : Tj
a nee keh
on
_ What balance in retained earnings will the combined entity reportstimmedianely following the combination?
1
_ Select the correct response:
Hi “
Hat ill bi or i
| HY lh
0:
I ‘dl
mentioned information answer
ay, 1a ftNa
| foul [i
toe xl | i
snbination? ay
i
|) Php175,000
A ral
q
Bm < Previous Continue
f
Pevpannnry eee ey Th yy Hi me yer ern riya
if iy
mau Hh h Hay | } yr Wifey Aen | Mh Ij il I (lk
‘} utpeal
i iit het|
c En EPS | {| A) , fi I iMNhl it | |
yh 1 i. i I IT My iy bly
ley | Met i ae ill ai HH Me tity nn 1Pe
hohe py lt y iM in Mh !
al i sare in st prio 10 the purchabe Jehna mare cllowing
uf
‘statemen
s|
| | I Ih Vay iyjp A Mi fo UE i i! in Ife ny
utile , Ll: iW bE tie phil as iy i ie tn
ol tL hiatiites
and Equity | hy “| ii 14 _ || a pee Mata
- Sa - - aN ' | bye
ue al ay _ Current liabilities: Hie | | | | rid [3 | “ it ill 1"
| ik ttt i We \
os Pnp20,000 | | Ordinary shares, Prespar Hy ie ate] i i hl nil ie aie
: | : Ly! 4 \
-pgo00 PIC): yb ey J Wh eke il
"200,000 | Retainedearnings | ae | sre re ,
a Ppp er bm ; |
. (00000 6 1,4, Trendy sharas, ProtOiébe fi (25. Q tt il w eAe
Moo
“ Php3og000 || Total 7 | Prasad 000 tlie .
il MyP Ty | |
oa
rn | :
: | i|
F Phips sul and the slasipstvint is worth PhpS00,000,| ‘
a
phat is the bet of coring interest in thesheng Statarinent of financial position on ™ plate of acquisition?
i ' | |
ma A
pee ahh fie |

ean Mh yiray a hl
+ Php360,000." maw Dae ("
! j Re tek ge Tg whe
i
Php640,000 i, cleans Ti
' Php230,400
Ee |
Medi, ht |
Questo 61 ofHh 7 PH Hy. | Joo y

| 1Po
Onin Doce inber/jah a PatiCorporetion aaargcen al the assets anid assumne all fi
Fy ay il ma |
Tele ul
Prp700.000
|/son)000
(200,000
400,000,
80,009
Current Noncurrent
Assets ° Php200,000 Php1,500.000
Liabilities 24,800 186,000
Answer the following independent assumptions:
If Papi and Pepu has a precombination balances of noncurrent assets for Php2,500,000, and Prp’ 288,000, respectively, how much is the combined balance of noncurrent
assets?
Select tne correct response:
Php3,710,000
| | il, H | iy|)A
|a Hl HM
een Te
al scembinaton
cad ay
" i an i
inert ot eoncutnt os Set
rn vi
eae
ane 288,000, respectively, how
[i iy! }
yi a fi at te much is the combined bala
nce of Noncurren
ee be a
J. 0) Php3,788,000
| «) Php3498,000
Zyxel Corporation acauired all net esseis and liabilities of Globe Tattoo Corporation by issuing shares of its common stock on january 1, 2071. Partial balance sheet cata for
the companies prior to the business combination (at book values) and immediately following the combination is. provided:
i i i I
Zyxel | Globe nsoligation

Cash 68000, 25,000 90,000
Accounts receivable 72,000 . ' 20,000 94,900
Inventory 33,000 45,000 88,000
Buildings and equipment (net) 400,000 i i 150,000 650,000
Goodwill ' ?
Total assets 570,000 240,000 ?
Accounts epayable 50,000 25,000 750

Bonds payable 250,000 100,000 350,000
Commen stock, Pnp2 par 100,000 25,000 160,000
Paic-in capital in excess of par 65,000 20,000 245,000
Retained earnings 105,000 70,000 ?
Total liabilities anc equities 570,000 240,000 ?
Basec on the above mentioned information answer the following questions
Ar what price was Zyxel stock tracing wren stock was issued for this acquisition?
Total assets 570,000 240,000 ?
i ! |
Accounts apayable ! 50,000 25,000 75,000
Bonds payable 250,000 109,000 350,000
Common siock, Php2 par 100,000 25,000 160,000
Paic-in capital in excess of par 65,000 20,000 245,000
Total liabilities anc equities 570,000 240,000 ?
asec on the above mentioned information answer the following questions
At what price was Zyxel stock tracing when stock was issued for this acquisition?
Prp2.00
native Assessment: Problems - SY20-21_1st sem: ACTG317 - BSA 31 - DLSU-D College/GS
DOAUYARME ECU CHICR NUM AR

Question 63 of 70 1Pi
On December 37, 2013, the goodwill presented in the consolidated statement of financial position after Ping Inc. acquired for cash all the outstanding stock of Sing
Compeny emounied io Prip5,000. Sing’s essets anc liabilities on that cay were as follows
Liabilmies
On the cay of busin

by Ping Inc. from this
Select tne correct response
Pnp495,000
Prp500,000
oe nent nan
1 Point
A |
Wh ih . ; ; .
t cua aeacquirer purchased 70% of the acquiree’s outstanding ordinary shares with a control premium of Php30,000. The goodwill recorded under partial
proach is PRPOS: pa How much is the goodwill under full goodwill approach?
ytd
| i y
| vie ea
| \ |
| feat
| |
i i it
| iif
| ii '
| 4 » lt
| ip
wl i
rit Hr] eb ades
i" | hi
' Leal
Lhyi
ae 1 hulle
gd IKIed cheAUdt
l st Fle alg tea Ley
vita
/ j i WN | ih a it i \ ili i
nl I Mh gill al (I I Li) aed wh |
Co Were eRe MF i ie a re aU ae ae
Tw wee rr | |
ben atealond cathe a fon aly
Question 65 of 70
1 Pe
In December 31, 2015, Palo Compeny paid Php594,000 for
99% of the outstan cing cammon stack of Sota Company. The remaining
“aS Unwilling to sell the stock. Sota's net assets had alboa! k walue 1% was helo by a stockholder who
of PhpS10,000 and a fair market value of PhpS40,000 when it wa S acquired
own accounting, the non-controlling interest should be reported at — by Palo. If Sota uses push-
Php5.100
PnpS 400
Pnp5,940
Pnps.000
< Prewous
fy AN
Gash | i,
M1 0,000 of Panis‘Ss Own! ordinary ack 0 Per
THu iHi i
iy i) Ni
} rae oe Gara Kos
ar ofistack
A A A
Co WNent) uh i
Ni Hi ii
Share issue cost Le TATE Php40,000

Bond issue cost 24,000
—| | Finder's fee ! a 30,000
Accounting and legal fees A A | 40,008
"The fair value of net assets of Ganda Korin amounted to Php,5,000,000
What is the total effect of the acquisition on the contributed capital of Ganda Ko?
Php2,160,000 increase
ng a a i" aa i ai
va i al
fete e Le (i | hy |
A|
Wil | Hi |
‘ | th |
Litt |
da Onn aria
ibune | le ee |
Ee i
TT aT
fut Wold
1 Poin
ti
ht afy atl tl
1 \
[ i (| Ta
: fe’
||
.
fe ; ee oy " I I f) !| |ili
| A
\
lt U shi ie Tine il fot
iN i Fe bea
arias brenich ed the folonin anh ig thy i
HN Wh | We 4 i i | f (WR a
oie! LF Le! mia ih ul Hh Se il i mt MN Li Lilly A
| i \ i m | jt i! Py il } i Vri Wid Ley ens Combined
sCbst Migs 5 Fee Ne | I fe ute a id * Phpa4,300 Php272,500
>uron i pap h od li ne ip ep il | ||| 10,600
: [oh | Hl
260,000
me Tl | | a \ hi i)
- Begin roy retreat ji Va tl i = A il 500 12.500

PST al jie! yl , T meh iT il ¥ i I I Tn
, ie Hg I ih wee fans ‘Al in re | | ‘| | r |

How mut Piredsennseansncri cal | yh | | i} | bh
le Hina il | ete ple _
‘Select the eorect response: lil i Le r nl f |
P| "| : fi
re
te i iy Wp
ifile
eee
ibe
regh a
be
if
Reha fe
: aren |
rigadt La
a | Fee eee I
Hie TN fe ails
: ete eal fay
Php2,000 I
Php7,000
< Previous
Question 68 of 70 I 1 Point
Philip Company will issue shares of is Php10 par value stock for all the outstanding stock of the Siylay Company. Philip Company stock has a market value of Php40 per
share. Siylay Company's balance sheet appears below
Current assets 160,000 Current liabilities 50,000

Property, plant, & equipment 440,000 Long-term debt 150,000
Common stock, Php4 par 40,000
Paid-in capital in excess of par 160,000
Retained earnings 200,000
Total assets 600,000 Total liabilities and equity 600,000
were correcly
Philip Company estimated that the current value of the current assets would be Php200,000 and the property, plant and equipment, Php800,090; the liabilities
Company's net
stated. Accordingly, Philip Company issued sufficient shares of its stock so that the market value of the stock issued equalled the market value of Siylay
assets.
Compute the stock exchange ratio for Philip shares to Stylay shares:
1:2
-) 21,
34
43
Zyxel Corporation acquired all net assets and liabilities of Globe Tattoo Corporation by issuing shares of fis. common Stock on january 17,2011. Partial balance sheet cata for
the companies prior to the business combination fat book values) and Immediately following the combination is provided:
| | } | tl
yet (|) | |() | 1," {Glew Consolidation

Cash | | 65000, | “25,000 90,000
Accounts receivable \ 72,900 Hf) i 20,000 94,000
Inventory 33,000 45,000 88,000
Buildings and equipment (net) 400,000 | | 150.000 650,000
Goodwill bili Hil ?
Total assets B70,006] 111 ). ) "1 249,000 2
Vi \
Accounts apayable sooo 25,000 75,000

Bonds payable 250,000 709,000 350,000
Common stock, Prnp2 par 100,000 25,000 760,000
Paid-n capital in excess of par 65,000 20,000 245,000
Total liabilities anc equities 570,000 240,000 >
Basec on the above mentioned information answer the following questions
What number of shares cid Zyxel issue for this acquisition?
Select ine correct response.
Prp80,000
He erm eM NAMEN
Py a
ative Assessment: es sve 2 Ast sem: ACTGaq7 ! ea DisU- ee rpm WA em inn
emILA AMINA I Ht |
Mi nt nitlh i! | gi i yt
|
Wl | Wit !
| | | - — | H) | 7 i
Total assets) | A EE AEG AE i 570,000.) Width ie2esoeoga "710 i aia
ee yc | i
EE Hil
a Wi ae Chi mugTh Hi | | iN
i |
( \ Mi Hy ETA ijl ni iit
Accounts apayable SEE TET | | Supday FA ih ih | 25,000! il 75,000
Ii] bay | | | HM | Ul hit yi i
Bonds payable aN 270.0 Mt | Mihi 100,000 oo 350,000
Ma whi yay| Hida yar MRE
Common stock, Php? par | beh A A OG Om HH i eT| i / 25,000 1
ii 760,000
| Wl IA EAE EF diva i
Paid-in capital inexcess of par | Wel Vit | 65,000 || {My 1) 2g,000 |) | 245,000
| LEM MMMM Wit HH) in ti
Retained earnings | Hs | ij) |) 19s.c00 fin Hl CN FOOD, | ?
Total liabilities and equities eT UII 570,000 CT 349000.) | ?
Based on the above mentioned information ariswer the following questions:

| |
What number of shares did Zyxel issue for this acquisition? I) I ly
Php80,000
PhpS0,000
Php30,000
Php17,500
LD
i |
ELUNE
AN {|
LLU i pUR
| Hi 1 I i | N ! Wy tH)
RRA
\ Hy it NN Hi i Hh Hil vi Jitu
a
il
( rioe HM i Sato rae Li i nnmwah?
Ti |iihe a i ‘a nr Hs i th i a
i hi i ite
\ } "| al I i | il
| | | | ! il i Ke ipui SNM ( Ne Sato |
I ii il | Ha With TNE at
iy th AMV WN i" i
| HI A rn li
| I} WN 0 agopy i iN i (160000
Fh ETA Tn il iti
i i \)Ki sad
:sseeB00) iM “ : Ns
i| | I NINNly
i i || \
Hi il _rHRe Myatt
WA Tr 7 | tt ]
| Heh
Hl i i iilii iy iHf Hh i
(he
i I\|
ii lli
| ll ni neo ui ti ih Hh i ™
aT ‘ Hy one y's i
h i ‘\) i et a4 000
TTA Ate i nt
| Vit ' li) iN i
I il With iat i) af 6g.000
/
| |
Hi | I fe
11M) [i Ast
Hp
| ig A aA
"90.000
ha
[|| | Hl 4 ri | Php240,000
es an ds artcae Ue A Wild | a jelPhpS56,000 WNL
|
| | shill Hi |
ll a | \ Wa |) | aA aa iy
WA L Wl if i HL | He a A
odes er hic il ii Gi AL \ | {| Hil | (I ! ij i I i ii i I I thi} \ | ue iN "
fi de calla | iI HA FEE ES Sul
|
— Puro Corporation burchaadd daD% ownership of a Company a fair
on December 34, 2016. for Ppt 56, the On ‘that‘date. Sato Company's propeny and equipment had
| value of Pnp30.g00 mare than the book value shown, while its long: ‘term liabilities fas amarker value of Php90,000. All other book values approximated fair value. In the
consolidated state ent of aici! postin on, lie | 2015 -" il I
i i | i
} iy ii Hi | yi Hilal
What amount! oral propery. and ecuipment ean eparted
; |
|Pecy prasaaccia # Bta
() Pho474.000
, dt iis da tansinslaiaa i tc
|
ws chk
(|
We NTL
Prpgenga
a a
ann A AS
TTT
[i
if i | | al i Hii
! i i i Wl iy 0 M il i! Hid
| ee poop, ||| | i
A (90,000 Fi ECC
ics | i 1 in | I php240,000 | yA a E Gia
WN hili il aNVili |
Ay ui ie
NAR a Ni
Purchased 80%OW irl af sell Glad ny on Decemt ed
= odo, ‘on hat date , Sato Lia property and equipment had a fair
000m(more Tred the, Book walue shown th while its long term liz t value of Php ii 000, All ‘i values approximated | fair value. In the
ent ol fjnancial aati on Decent 1,20 | [| i }
| i >
a thie ea oy Pura!

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SY20-21# 1st sem: ACTG317_- BSA 31 Biz

Midterm Summative Assessment: Problems

Select the correct response:

|. The realized mark-up on br anch inventory anew i

Select the correct response:

Debits: Main store | Branch

Main store 24,000

Beginning inventory - home office Php10,000

Purchase discount 2,000

Select the correct response

Sco a Eee sem: roe BSA x)

| V0.8 ) of Papi's of ii PheTO par LanHn Ai i Ma . 0.

The fair value of net assets of Ganda Korin amounted to Php,5,000,000

Select the correct response:

Cima C=\ (00s

_ Deecember 28 of the se ame year, ele clkatel all hint ag '

Select the correct response:

AG: TG317,° BSA 31

Capital stock Bete TAT 0) Baty1 ECS

Total credits ~—-Php306000 = Php120,400

Select the correct response:

ry | Php4zg00 ' PhpP54,000

Php558,000 | | _Prp240.0 000

< Previous | Continue

20-218 1st sem:

Select the correct response:

‘Home Office "Branch

1; “Shipments from home office .

How much is the beginning inventory in the combined

— mane Assessment; Problems

SY20-21' 1st sem: ACTG317 -

Select the correct response

| > Continue >

20-21" 1st sem: ACTG317 -

Select the correct response. !

Select the correct response.

20-21! 1st sem: ACTG317 - BSA 31

Debits: Main store Branch

Building - net 48,000 14.400

$Y 20-218 1st sem: ACTG317 - BSA 31

Select the correct response.

Y20-21¥ 1st sem: ACTG317 = BSA 31 Ss =

Select the correct response.

Gebit to home office current account for Php2?4,000

Gebit to shipments from home office account for Php24.000.

credst to shipments to branch account for Php?4.000

me < Previous fail

Midterm Summative Assessment: Problems \yit

jal a hob al jill lc

Select the correct response.

a | | apd} | | |(\,! I| (| hm \l| | ia ‘) \1

Select the correct response:

he t branich reported a cost of si uF Php 900. i | vet a1 |

Y20-21¥ 1st sem: ACTG317 = BSA 31 SA

Select the correct response:

st sem: ACTG317 - BSA 31 a

ae ie WME Heyl te fred ' Home: Office

is acquired fir om| heme office.| The ending

The rectoffice and its branch,hee ited the following amounts:

| Home Office Branch

Select ihe correct response:

Select the correct response:

ane Bint Assessment: Problems Wa