HIJ and KLM exchanged equity interest resulting to HIJ obtaining control over KLM. Relevant information follows: HIJ (before combination) Consolidated Identifiable assets 2,200,000.00 3,600,000.00 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: HIJ (before combination) Consolidated Identifiable assets 2,200,000.00 3,600,000.00 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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