On January 1 2021.NOP acquires 100% interest in QRS in exchange for NOP's 10,000 shares with par value per share of P20 and fair value per share of P200. QRS's net identifiable assets have fair value of P1,920,000 and a book value of P1,850,000. In addition, NOP agrees to provide an additional payment of P400,000 if QRS's 2021 net income will except P3,600,000. The fair value of the contingent consideration is P280,000. The net identifiable asset of NOP have a book value of P3,250,000 and the fair value of P3,375,000. Compute for the consolidated net identifiable asset after the acquisition. Your answer On January 1, 2021, ABC acquired all the assets and assumed all the liabilities of DEF Co. for P4,500,000. Relevant information follows: ASSETS Carrying Value Fair Values Cash 55,000 55,000 Receivable 800,000 800,000 Allowance for Doubtful Accounts 150,000 180,000 Inventory 700,000 750,000 Land 3,500,000 4,000,000 Goodwill 150,000 200,000 Liabilities 1,555,000 1,555,0000 DEC Co. has research and development projects with fair value of P100,000. ABC does not intend to use those R&Ds. However, there have been exchange transactions involving the information generated from DEF, but those transactions are infrequent. All fair value adjustments result to temporary differences but do not affect the tax bases of the assets and liabilities. The tax rate is 30%. ABC incurred P200,000 on general administrative costs of maintaining an internal acquisition department. Compute the goodwill (gain on bargain purchase)? Your