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NOBITA Corporation acquired 65 percent of ZONEYO Corporation's common stock on December 31, 2018. ZONEYO's statement of financial position immediately before the combination reflected the

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NOBITA Corporation acquired 65 percent of ZONEYO Corporation's common stock on December 31, 2018. ZONEYO's statement of financial position immediately before the combination reflected the following balances: Cash and receivables P 120,000 Inventory 210,000 Land 270,000 Building and equipment 750.000 Total Assets P 1,350,000 Accounts payable P 90,000 Income tax payable 120,000 Bonds payable 300,000 Ordinary shares 300,000 Retained earnings 540.000 Total equities P 1,350,000 A review of the fair value of ZONEYO's assets and liabilities indicated that inventory, land, and buildings and equipment had fair values of P 195,000, P300,000, and P900,000 respectively. All other assets and liabilities have book value equal to their fair value. 1. Assuming NOBITA paid P800,000 for 65% of the outstanding shares of ZONEYO and the fair value of the non-controlling interest at the date of acquisition was determined to be P400,000, how much is the goodwill/(income for acquisition) to be reported in the consolidated statement of financial position of NOBITA Corporation? 2. Assuming NOBITA paid P600,000 for 65% of the outstanding shares of ZONEYO and the fair value of the non-controlling interest at the date of acquisition was determined to be P320,000, how much is the goodwill/(income for acquisition) to be reported in the consolidated statement of financial position of NOBITA Corporation? Assuming NOBITA paid P715,000 for 65% of the outstanding shares of ZONEYO, how much is the goodwill/(income for acquisition) to be reported in the consolidated statement of financial position of NOBITA Corporation? 4. Assuming NOBITA paid P650,000 for 65% of the outstanding shares of ZONEYO, how much is the goodwill/(income for acquisition) to be reported in the consolidated statement of financial position of NOBITA Corporation

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