Information relating to six independent cases has been provided below.

Required

1. Using the information provided for each case above, calculate the:

2. the net fair value adjustment;

3. the fair value adjustment allocated to net identifiable assets; and

4. the goodwill/gain from bargain purchase.

Transcribed Image Text:

Case D Purchase price Fair value of net identifiable assets Carrying value of net identifiable assets $100 $ 80 120 120 $100 $ 80 80 100 $120 100 $120 80 100 100 80 80 120 120