HIJ and KLM exchanged equity interest resulting to HIJ obtaining control over KLM. Relevant information follows: HU (before combination) Consolidated 2,200,000.00 3,600,000.00 Identifiable assets Goodwill Total Assets 2,200,000.00 Liabilities 700,000.00 1,300,000.00 Share Capital (P20 par) 800,000.00 976,000.00 Share Premium 300,000.00 1,092,000.00 Retained Earnings 400,000.00 Total Liabilities and Equity 2,200,000.00 ? Requirements: Compute for the Goodwill or (Gain on Bargain Purchase).

HIJ and KLM exchanged equity interest resulting to HIJ obtaining control over KLM. Relevant information follows: HU (before combination) Consolidated 2,200,000.00 3,600,000.00 Identifiable assets Goodwill Total Assets 2,200,000.00 Liabilities 700,000.00 1,300,000.00 Share Capital (P20 par) 800,000.00 976,000.00 Share Premium 300,000.00 1,092,000.00 Retained Earnings 400,000.00 Total Liabilities and Equity 2,200,000.00 ? Requirements: Compute for the Goodwill or (Gain on Bargain Purchase).

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter20: Corporations: Distributions In Complete Liquidation And An Overview Of Reorganizations

Section: Chapter Questions

Problem 38P

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