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DATE OF ACQUISITION
. On January 2, 2022, the Statement of Financial Position of Bench and Body Company prior to the
combination are as follows:
Bench Co. Body Co.
Cash P 675,000 P 22,500
Inventories 450,000 45,000
Property, plant and equipment (net) 1,125,000 157,500
TOTAL ASSETS P 2,250,000 P 225,000
2. Assuming Bench acquired 70% of the outstanding shares of Body Co. for P157,500 and NCI
was measured at fair value of P91,500, what is the result of business combination?
3. Assuming Bench Co. acquired 80% of the outstanding shares of Body Co. for P202,500 and
NCI was measured at relevant share basis, how much is the consolidated SHE?
4. Assuming Bench Co. acquired 90% of the outstanding shares of Body Co. for P364,500 and
NCI was measure at fair value, how much is the consolidated assets?