The correct answer is letter B. How did they get the 7,500,000 answer? 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.

Goodwill: Generally speaking, goodwill is an intangible asset that is related with the acquisition…

MC48 On July 16, 2019, Rudy Project Company purchased all the ase cash. Iris Company's total identifiable asset values were: value Book P115,000,000. Iris P100,000,000; Fair market value Company's total liabilities were P52,500,000. What is the amount of goodwill that Rudy Project Company should record on July 16, 2019? PO P7,500,000 P15,000,000 P22,500,000 a. b. C. d.

MC48 On July 16, 2019, Rudy Project Company purchased all the ase cash. Iris Company's total identifiable asset values were: value Book P115,000,000. Iris P100,000,000; Fair market value Company's total liabilities were P52,500,000. What is the amount of goodwill that Rudy Project Company should record on July 16, 2019? PO P7,500,000 P15,000,000 P22,500,000 a. b. C. d.

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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