FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lolo Inc. acquires 75% of Apo Co.'s ordinary shares for P220,000 cash. The non-controlling interest in Apo Co. has a book value of P55,000 and

Lolo Inc. acquires 75% of Apo Co.'s ordinary shares for P220,000 cash. The non-controlling interest in Apo Co. has a book value of P55,000 and a fair value of P85,000.Apo Co. reports identifiable assets with a carrying value of P400,000 and a fair value of P500,000, and it has liabilities at book and fair value of P180,000.

How much is goodwill (gain) under full goodwill approach?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Reporting And Analysis

Financial Reporting And Analysis

Authors: Lawrence Revsine, Daniel Collins

4th Edition

0073527092, 978-0073527093

More Books

Students also viewed these Accounting questions

Question

★★★★★
Exchange of Assets Use the same information as in E10-9, except that the warehouse owned by Denser has a fair value of$33,000, and therefore, Bristol agrees to pay Denver $3,000 to complete the...

Answered: 1 week ago

Question

★★★★★
Last year, Headline News Corporation paid $600,000 in dividends and retained $360,000 of the earnings it generated. The company follows a constant payout ratio dividend policy. If Headline generates...

Answered: 1 week ago

Question

★★★★★
In Example 5.3 if server i serves at an exponential rate i,i = 1, 2, show that P{Smith is not last} = 1 1 + 2 2 + 2 1 + 2 2

Answered: 1 week ago

Question

★★★★★
Consider the following two-equation model: Y1t = A1 + A2Y2t + A3X1t + ult Y2t = B1 + B2Y1t + B3X2t + u2t where the Y's are the endogenous variables, the X's the exogenous variables, and the u's the...

Answered: 1 week ago

Question

★★★★★
The following table is from a car rental company database. And in the table shows the rental information. Reguired: Based on your study of the concept of normalization between what are the problems...

Answered: 1 week ago

Question

★★★★★
Given that capital is fixed, whatdo you figure isthe marginal cost or additional cost of producing another: haircut sandwich Ferris Wheel ride

Answered: 1 week ago

Question

★★★★★
explore how to reduce employee turnover, absenteeism and the cost turnover has on corporate profits. In the process of researching this topic, look into numerous ways companies have tried to improve...

Answered: 1 week ago

Question

★★★★★
CA3-AUDITING a) Describe the factors you as auditor should considered and the procedures should bee performed prior to acceptance as auditor (10 marks) b) A good system of internal control consists...

Answered: 1 week ago

Question

★★★★★
Can I get some help with these questions A glass is tapered so that it is narrower at the top than at the bottom. The glass is filled using a hose with a constant flow rate of 4 ml per second. Cross-...

Answered: 1 week ago

Question

★★★★★
Which one of the following is an example of a task/work group? A. A school counseling group that addresses students' responsible sexual behavior. B. A group held in a clinic that focuses on treating...

Answered: 1 week ago

Question

★★★★★
What is management growth? What are its factors

Answered: 1 week ago

Question

★★★★★
2. How do I perform this role?

Answered: 1 week ago

Question

★★★★★
6. List one and only one societal role that you wish you had performed better in. Spend the next month on a small push to improve your personal performance within this role. At the end of the month,...

Answered: 1 week ago

Question

★★★★★
9. Imagine that you have achieved the goal you set for yourself in task 8. a. What do you see in the past? b. How do you feel? c. What do you hear? d. How does this change your roles? e. How does...

Answered: 1 week ago

Previous Question Next Question