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business combi Question 2 2 pts On July 1, 2021 the Venus Company acquired the net assets of Cupid Company for a consideration transferred of
business combi
Question 2 2 pts On July 1, 2021 the Venus Company acquired the net assets of Cupid Company for a consideration transferred of P16,000,000. At the acquisition date, the carrying amount of Cupid's net assets was P10,000,000. At the acquisition date, a provisional fair value of P12,000,000 was attributed to the net assets. An additional valuation received on May 31, 2022 increased this provisional fair value to P13,000,000 and on July 30, 2022 this fair value was finalized at P14,000,000. What amount should Venus present for goodwill in its statement of financial position at December 31, 2022? , 2,000,000Step by Step Solution
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