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

Question

1 Approved Answer

On June 30, 2020, Happee Inc. purchased goodwill of P125,000 when it acquired the net assets of Beam Corp. During 2020, Happee incurred additional cost

On June 30, 2020, Happee Inc. purchased goodwill of P125,000 when it acquired the net assets of Beam Corp. During 2020, Happee incurred additional cost of developing the goodwill, by training Beam employees (P50,000) and hiring additional Beam employees (P25,000). How much should Happee report as goodwill on its December 31, 2020 Financial Position?

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

Intermediate Accounting IFRS

Intermediate Accounting IFRS

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

3rd edition

1119372933, 978-1119372936

More Books

Students also viewed these Accounting questions

Question

★★★★★
Bramer Corporations controller, Mara Jossen, was asked to prepare a capital investment analysis for a robot-guided aluminum window machine. This machine would automate the entire window-casing...

Answered: 1 week ago

Question

★★★★★
=+LO 3-3 Illustrate ways in which personality can affect your performance at school and work.

Answered: 1 week ago

Question

★★★★★
Differentiate between ethical and unethical multiple relationships for clinical psychologists.

Answered: 1 week ago

Question

★★★★★
AllTalk Technologies manufactures capacitors for cellular base stations and other communications applications. The companys July 2014 flexible budget shows output levels of 6,500, 8,000, and 10,000...

Answered: 1 week ago

Question

★★★★★
You believe you will spend $215,000 a year for 17 years once you retire in 12 years. If the interest rate is 5.90% per year. (Do not round intermediate calculations. Round your answer to 2 decimal...

Answered: 1 week ago

Question

★★★★★
I am struggling with the Unit 4 written assignment for BAM110. I've tried to answer question #2 twice and it was not accepted. I was not able to get any feedback aside from, "it was wrong". What can...

Answered: 1 week ago

Question

★★★★★
Question 1 [Total 25 marks] Question 1 Part (a) ABC Co. is a small publisher and is considering a project to publish a new book. The subject matter of the book is recipes that follow a currently...

Answered: 1 week ago

Question

★★★★★
Exercise Set 3.2 In Exercises 1 through 8, find the average rate of change of the given function on the given interval(s). 1) f(x) = x; (-2, 0), (0, 2) 2. f(x) = x; (-3, 0), (0, 3) 3) f(x) = 1/x; (1,...

Answered: 1 week ago

Question

★★★★★
Using the Beverage Sales dataset, define the name temp for the range of the Temperature data and the name sales for the range of the Sales data. Then, use these range names in Excel formulas to find...

Answered: 1 week ago

Question

★★★★★
Your client is renovating an older Victorian style home into a 2-family dwelling with one unit on the ground floor and another on the 2nd floor. There are no windows on either side of the building as...

Answered: 1 week ago

Question

★★★★★
The following three lines do not have a common intersection: x+y=4, x-y=4 and x + 2y = 2. However, we can find an "approximate solution" to this system of equations by finding a point (x, y) that is...

Answered: 1 week ago

Question

★★★★★
and that the steady-state equilibrium levels of { K*, Y*, I*, C* } are given by aA 1/(1-Q) K* = L, (2.22) pto Y* = A(K* )a[1-a = aA a/ (1-0) AL, (2.23) pto aA 1/(1-Q) [* = 6K* = 6L, (2.24) pto O/...

Answered: 1 week ago

Question

★★★★★
3. List four points that you think are important to give the individual attention, when he or she is going to sell an argument or an idea to you.

Answered: 1 week ago

Question

★★★★★
4. Think of a situation where you would convince someone of an argument or an idea you had. a. What feelings did you want the other person to be left with when you finished? b. When you think about...

Answered: 1 week ago

Question

★★★★★
7. Think of a situation where you felt that you mastered the situation, i.e. where you had a positive feeling of completing the task you were to perform. A. Now develop a picture in your imaginary...

Answered: 1 week ago

Previous Question Next Question