Bulls Corporation holds assets with a fair value of P150,000 and a book value of P125,000 and liabilities with a book value and fair value of P50,000. What balance will be assigned to the non-controlling interest in the consolidated balance sheet if Miami Company pays P90,000 to acquire 75 percent ownership in Bulls and goodwill of P20,000 is reported? 50,000 40,000 30,000 20,000
Bulls Corporation holds assets with a fair value of P150,000 and a book value of P125,000 and liabilities with a book value and fair value of P50,000. What balance will be assigned to the non-controlling interest in the consolidated balance sheet if Miami Company pays P90,000 to acquire 75 percent ownership in Bulls and goodwill of P20,000 is reported? 50,000 40,000 30,000 20,000
Bulls Corporation holds assets with a fair value of P150,000 and a book value of P125,000 and liabilities with a book value and fair value of P50,000. What balance will be assigned to the non-controlling interest in the consolidated balance sheet if Miami Company pays P90,000 to acquire 75 percent ownership in Bulls and goodwill of P20,000 is reported? 50,000 40,000 30,000 20,000
Bulls Corporation holds assets with a fair value of P150,000 and a book value of P125,000 and liabilities with a book value and fair value of P50,000. What balance will be assigned to the non-controlling interest in the consolidated balance sheet if Miami Company pays P90,000 to acquire 75 percent ownership in Bulls and goodwill of P20,000 is reported?
50,000
40,000
30,000
20,000
Definition Definition Intangible asset that includes proprietary or intellectual property and brand value of a firm. Goodwill is recorded in the books when a firm purchases another firm and the purchase price is more than the fair value of net identifiable assets of the acquired business. The amount of goodwill is recorded on the asset side of the balance sheet (statement of financial position).
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