d.P225,000MC48 On July 16, 2019, Rudy Project Company purchased all the asecash. Iris Company's total identifiable asset values were: RvalueP115,000,000. IrisP100,000,000; Fair market valueCompany's total liabilities were P52,500,000.What is the amount of goodwill that Rudy Project Company shouldrecord on July 16, 2019?a.POb.P7,500,000P15,000,000P22,500,000C.d.

Answer Good will = P-(A-L) given P= 70,000,000 A= 115,000,000 L=52,500,000

Answered: cord July

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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