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How much is the goodwill/gain on acquisition on the books of ABC? Using the same information but the fair value of the non-controlling interest is 112,750, how much is the goodwill/gain on acquisition? Using the same information, assuming the consideration paid includes control premium of 37,000 how much is the goodwill/gain on acquisition?

How much is the goodwill/gain on acquisition on the books of ABC? Using the same information but the fair value of the non-controlling interest is 112,750, how much is the goodwill/gain on acquisition? Using the same information, assuming the consideration paid includes control premium of 37,000 how much is the goodwill/gain on acquisition?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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How much is the goodwill/gain on acquisition on the books of ABC?

Using the same information but the fair value of the non-controlling interest is 112,750, how much is the goodwill/gain on acquisition?

Using the same information, assuming the consideration paid includes control premium of 37,000 how much is the goodwill/gain on acquisition?

The statement of financial position of XYZ Corporation on June 30, 2013 is presented below: Current assets P32,500 Land 220,000 Building 110,000 Equipment 87,500 Total assets P450,000 Liabilities 87,500 Capital stock, P5 par 150,000 Additional paid-in capital Retained earnings 137,500 75,000 Total equities P450,000 | All the assets and liabilities of XYZ assumed to approximate their fair values except land and building. It is estimated that the land has a fair value of 350,000 and the fair value of the building increased by P80,000. ABC Corporation acquired 80% of XYZ's capital stock for P500,000.
Transcribed Image Text:The statement of financial position of XYZ Corporation on June 30, 2013 is presented below: Current assets P32,500 Land 220,000 Building 110,000 Equipment 87,500 Total assets P450,000 Liabilities 87,500 Capital stock, P5 par 150,000 Additional paid-in capital Retained earnings 137,500 75,000 Total equities P450,000 | All the assets and liabilities of XYZ assumed to approximate their fair values except land and building. It is estimated that the land has a fair value of 350,000 and the fair value of the building increased by P80,000. ABC Corporation acquired 80% of XYZ's capital stock for P500,000.
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