Samsung Company for P80,000,000, Panasonic also Paid P2,500,000 as direct costs aftributable to the combination. Panasonic was also obligated to pay an additional P20,000,000 to the stockholders of Samsung Company at the end of the year if Samsung company maintained existing profitability and it is highly probable that Samsung company 4. On January 2, 2019, Panasonic Company purchased 90% of the outstanding shares of would achieve this expectation. The fair value of the contingent consideration P20,000,000. The following financial information for Panasonic Company and Samsung Company follows: Samsung Company Cash and Cash Equivalent Accounts Receivable Inventory Plant and Equipment Other Assets Liabilities Panasonic Company Book Value 90,000,000 32,500,000 47,500,000 100,000,000 6,000,000 60,000,000 200,000,000 16,000,000 Book Value 7,500,000 17,500,000 25,000,000 50,000,000 4,000,000 10,000,000 75,000,000 19,000,000 Fair Value 7,500.000 16,500,000 23,000,000 60,000,000 2,500,000 Share Capital Retained Earnings 9950 Assuming Panasonic opted to measure NCI proportionate to its share on the identifiable net assets acquired, the amount of goodwill to be recorded by Panasonic arising from the business acquisition is: a P11,611,110 b. P10,450,000 c. PI1,111,111 d. P10,950,000
Samsung Company for P80,000,000, Panasonic also Paid P2,500,000 as direct costs aftributable to the combination. Panasonic was also obligated to pay an additional P20,000,000 to the stockholders of Samsung Company at the end of the year if Samsung company maintained existing profitability and it is highly probable that Samsung company 4. On January 2, 2019, Panasonic Company purchased 90% of the outstanding shares of would achieve this expectation. The fair value of the contingent consideration P20,000,000. The following financial information for Panasonic Company and Samsung Company follows: Samsung Company Cash and Cash Equivalent Accounts Receivable Inventory Plant and Equipment Other Assets Liabilities Panasonic Company Book Value 90,000,000 32,500,000 47,500,000 100,000,000 6,000,000 60,000,000 200,000,000 16,000,000 Book Value 7,500,000 17,500,000 25,000,000 50,000,000 4,000,000 10,000,000 75,000,000 19,000,000 Fair Value 7,500.000 16,500,000 23,000,000 60,000,000 2,500,000 Share Capital Retained Earnings 9950 Assuming Panasonic opted to measure NCI proportionate to its share on the identifiable net assets acquired, the amount of goodwill to be recorded by Panasonic arising from the business acquisition is: a P11,611,110 b. P10,450,000 c. PI1,111,111 d. P10,950,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Samsung Company for P80,000,000. Panasonic also Paid P2,500,000 as direct costs
atributable to the combination. Panasonic was also obligated to pay an additional
4. On January 2, 2019, Panasonic Company purchased 90% of the outstanding shares of
P20,000,000 to the stockholders of Samsung Company at the end of the year if Samsung
company maintained existing profitability and it is highly probable that Samsung company
would achieve this expectation. The fair value of the contingent consideration
P20,000,000.
The following financial information for Panasonic Company and Samsung Company
follows:
Samsung
Company
Cash and Cash Equivalent
Accounts Receivable
Inventory
Plant and Equipment
Other Assets
Liabilities
Share Capital
Retained Earnings
Panasonic
Company
Book Value
90,000,000
32,500,000
47,500,000
100,000,000
6,000,000
60,000,000
200,000,000
16,000,000
Book Value
7,500,000
17,500,000
25,000,000
50,000,000
4,000,000
10,000,000
75,000,000
19,000,000
Fair Value
7,500.000
16,500,000
23,000,000
60,000,000
2,500,000
9950
vlat
Assuming Panasonic opted to measure NCI proportionate to its share on the identifiable net
assets acquired, the amount of goodwill to be recorded by Panasonic arising from the business
acquisition is:
a P11,611,110
b. P10,450,000
c. P11,111,111
d. P10,950,000
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