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MC48 On July 16, 2019, Rudy Project Company purchased all the ase cash. Iris Company's total identifiable asset values were: value Book P115,000,000. Iris P100,000,000; Fair market value Company's total liabilities were P52,500,000. What is the amount of goodwill that Rudy Project Company should record on July 16, 2019? PO P7,500,000 P15,000,000 P22,500,000 a. b. C. d.

MC48 On July 16, 2019, Rudy Project Company purchased all the ase cash. Iris Company's total identifiable asset values were: value Book P115,000,000. Iris P100,000,000; Fair market value Company's total liabilities were P52,500,000. What is the amount of goodwill that Rudy Project Company should record on July 16, 2019? PO P7,500,000 P15,000,000 P22,500,000 a. b. C. d.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 10RE
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The correct answer is letter B. How did they get the 7,500,000 answer? 

d. P225,000 MC48 On July 16, 2019, Rudy Project Company purchased all the ase cash. Iris Company's total identifiable asset values were: R value P115,000,000. Iris P100,000,000; Fair market value Company's total liabilities were P52,500,000. What is the amount of goodwill that Rudy Project Company should record on July 16, 2019? a. PO b. P7,500,000 P15,000,000 P22,500,000 C. d.
Transcribed Image Text:d. P225,000 MC48 On July 16, 2019, Rudy Project Company purchased all the ase cash. Iris Company's total identifiable asset values were: R value P115,000,000. Iris P100,000,000; Fair market value Company's total liabilities were P52,500,000. What is the amount of goodwill that Rudy Project Company should record on July 16, 2019? a. PO b. P7,500,000 P15,000,000 P22,500,000 C. d.
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