question 24 ans pls On January 1, 2020, PEARLS Corporation acquired theidentifiable net assets of START UP Company. On this date,the identifiable assets acquired and liabilities assumed havefair values of P6.4M and P3.6M, respectively. PEARLSincurred the following acquisition-related costs: legal fees -40,000; due diligence costs - 400,000 and general admincosts - 80,000. As consideration, PEARLS issued 8,000 shareswith par value and fair value per share of P400 and P500respectively. Costs of registering and listing the sharesamounted to P160,000.How much is the goodwill on the business combination,assuming both companies qualified as SME?

Pearls corporation has acquired net identifiable assets of Start up Company. The net assets and net…

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FINANCIAL ACCOUNTING

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Author:Libby

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Chapter1: Financial Statements And Business Decisions

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How much is the goodwill on the business combination, assuming both companies qualified as SME?