Sky Co. acquired 100% interest in Star, Inc.'s net identifiable assets with a fair value of P600,000 for P800,000. The valuation of the consideration transferred includes the following: P30,000 reimbursement for appraisal fees incurred by Star in valuing a patent. P50,000 fair value of a trade secret that Sky will grant Star after the business combination. The trade secret has a carrying amount of P40,000 in Sky's books Requirement: Compute for the goodwill.

Q: ABC Co. paid P150,000 for its 75% interest in DEF Co. ABC elected to value NCI at fair value. DEF's…

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Q: CALUM Co. paid P150,000 for its 75% interest in LUKE Co. CALUM elected to value NCI at fair value.…

A: Non Controlling Interest (NCI) : (1) For calculating NCI, the Book Value or Net Asset Value of the…

Q: S acquired 100 percent of F for P275,000. At the date of acquisition, F had the following book and…

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A: Goodwill:Goodwill is calculated by taking the difference between cash paid for an acquisition and…

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A: Computation of net income of DEF Corp. : Computation of markup from goods sent to branch : Markup…

Q: XYZ Co had the following accounts at the time it was acquired by ABC Inc (see image below). ABC paid…

A: Cost of acquisition is the cost at which one business firm or any individual acquires another…

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A: SOLUTION:-

Q: XYZ Co had the following accounts at the time it was acquired by ABC Inc (see image below). ABC paid…

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Q: what is the Goodwill?as well as the amount of the Consolidated Total Assets,Total Liabilities , and…

A:

Q: Stattgrue Ltd obtains control of Naonite Ltd through two cash acquisitions. At July 1, 2018…

A: The investment represents the funds deployed in an area from which a return has to be earned.

Q: ALUM Co. paid P150,000 for its 75% interest in LUKE Co. CALUM elected to value NCI at fair value.…

A: Non Controlling Interest (NCI) : (1) For calculating NCI, the Book Value or Net Asset Value of the…

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Q: XYZ Co had the following accounts at the time it was acquired by ABC Inc (see image below). ABC paid…

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