Transcribed Image Text: AAA Inc. Was merge into BBB Corp. in a combination properly accounted for as acquisition of interest. Their condensed
Statement of Financial Position before the combination show:
Accounts Receivable, net
Property Plant and Equipment
Capital Stock, par P100
As per independent appraiser’s report, BBB’s assets have fair market value of P1,653,600 for current assets, P1,248,000 for plant
and equipment and P338,000 for patents. BBB’s liabilities are properly valued. AAA purchases BBB’s net asset for P4,000,000.
Compute for the consolidated asset after acquisition.