Jacob Inc acquired on January 1, 2020 all the issued and outstanding common shares of Orlando...
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Jacob Inc acquired on January 1, 2020 all the issued and outstanding common shares of Orlando Inc. for P310,000 and Orlando Inc. is dissolved. On this day, the assets and liabilities of Orlando Inc. show: Cash P 30,000 Merchandise inventory 90,000 Plant and equipment 160,000 Goodwill 50,000 Liabilities (60,000) Per appraisal, plant and equipment and merchandise inventory were valued at P190,000 and P75,000, respectively. What is the amount of goodwill resulting from this transaction? Jacob Inc acquired on January 1, 2020 all the issued and outstanding common shares of Orlando Inc. for P310,000 and Orlando Inc. is dissolved. On this day, the assets and liabilities of Orlando Inc. show: Cash P 30,000 Merchandise inventory 90,000 Plant and equipment 160,000 Goodwill 50,000 Liabilities (60,000) Per appraisal, plant and equipment and merchandise inventory were valued at P190,000 and P75,000, respectively. What is the amount of goodwill resulting from this transaction?
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Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
Posted Date:
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