Question
Perch Co. acquired 80% of the common stock of Float Co. for $1,600,000. The fair value of Floats net assets was $1,850,000 and the book
Perch Co. acquired 80% of the common stock of Float Co. for $1,600,000. The fair value of Floats net assets was $1,850,000 and the book value was $1,500,000. What is the amount of goodwill recognized under IFRS at the date of acquisition?
a. 0
b. 150,000
c. 250,000
d. 120,000
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
4th Edition
0132423502, 978-0132423502
