Book Value P50,000 140,000 530,000 210,000 Market Value P50,000 200,000 600,000 Cash Inventory Plant Assets (net) Cost of Goods Sold Depreciation Expense 60,000 Liabilities (230,000) (10,000) (350,000) (430,000) is the goodwill recognized on the acquisition date balance sheet? (230,000) Common Stock Retained Earnings Sales
Book Value P50,000 140,000 530,000 210,000 Market Value P50,000 200,000 600,000 Cash Inventory Plant Assets (net) Cost of Goods Sold Depreciation Expense 60,000 Liabilities (230,000) (10,000) (350,000) (430,000) is the goodwill recognized on the acquisition date balance sheet? (230,000) Common Stock Retained Earnings Sales
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 9MC
Related questions
Question
On August 1, ABC Corporation acquired 80 percent of XYZ Corporation for P560,000. XYZ Corporation had the following book and market values at acquisition date.
![Book Value
P50,000
140,000
530,000
210,000
Market Value
P50,000
200,000
600,000
Cash
Inventory
Plant Assets (net)
Cost of Goods Sold
Depreciation Expense 60,000
Liabilities
(230,000)
(10,000)
(350,000)
(430,000)
What is the goodwill recognized on the acquisition date balance sheet?
(230,000)
Common Stock
Retained Earnings
Sales](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F51f5de87-f0e8-4d50-a5c1-e3761a5ef100%2F2aac11fd-6988-43c5-aba1-54fa60f9f862%2Fz5kwkgm_processed.png&w=3840&q=75)
Transcribed Image Text:Book Value
P50,000
140,000
530,000
210,000
Market Value
P50,000
200,000
600,000
Cash
Inventory
Plant Assets (net)
Cost of Goods Sold
Depreciation Expense 60,000
Liabilities
(230,000)
(10,000)
(350,000)
(430,000)
What is the goodwill recognized on the acquisition date balance sheet?
(230,000)
Common Stock
Retained Earnings
Sales
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