100% of the equity share capital of the Duterte Co. was acquired by the Leni Inc. on July 30, 2021. Leni Inc. issued 500,000 new P1 ordinary shares which had a fair value of P8 each at the acquisition date. In addition, the acquisition resulted in Leni Inc. incurring fees payable to external advisers of P200,000 and share issue costs of P180,000. In accordance with IFRS 3, Business Combination, goodwill at the acquisition date is measured by subtracting the identifiable assets acquired and the iabilities assumed from

100% of the equity share capital of the Duterte Co. was acquired by the Leni Inc. on July 30, 2021. Leni Inc. issued 500,000 new P1 ordinary shares which had a fair value of P8 each at the acquisition date. In addition, the acquisition resulted in Leni Inc. incurring fees payable to external advisers of P200,000 and share issue costs of P180,000. In accordance with IFRS 3, Business Combination, goodwill at the acquisition date is measured by subtracting the identifiable assets acquired and the iabilities assumed from

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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