Question
T Company acquired 75% of P Company's ordinary share for P510,000 cash. At that date, P Company reports identifiable assets with book value of P1,040,000
T Company acquired 75% of P Company's ordinary share for P510,000 cash. At that date, P Company reports identifiable assets with book value of P1,040,000 and a fair value of P1,280,000 and it has liabilities with book value and a fair value of P716,000. How much is the goodwill or gain on acquisition arising on consolidation if NCI is measured at fair value and that control premium of P30,000 included in the purchase price?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Cost Accounting Principles
Authors: Kinney Raiborn
14th Edition
9788131521069
