On June 1, 20x9, CAP CÓ paid P800,000 for the net assets of SHER CO. the carrying values for SHER’s assets and liabilities on June 1, 20x9 follow: Cash 150,000 180,000 320,000 100,000 130,000 Accounts Receivable Capitalized Software Costs Goodwill Liabilities On June 1, SHER's accounts receivable had a fair value of P40,000, lesser than its carrying amount. Additionally, SHER's in process research and development was estimated to have a fair value of P200,000. All other items were stated at their fair values. On the June 1, combined balance sheet, how much is reported for goodwill?

On June 1, 20x9, CAP CÓ paid P800,000 for the net assets of SHER CO. the carrying values for SHER’s assets and liabilities on June 1, 20x9 follow: Cash 150,000 180,000 320,000 100,000 130,000 Accounts Receivable Capitalized Software Costs Goodwill Liabilities On June 1, SHER's accounts receivable had a fair value of P40,000, lesser than its carrying amount. Additionally, SHER's in process research and development was estimated to have a fair value of P200,000. All other items were stated at their fair values. On the June 1, combined balance sheet, how much is reported for goodwill?

Name: On June 1, 20x9, CAP CÓ paid P800,000 for the net assets of SHER CO.
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Description: On June 1, 20x9, CAP CÓ paid P800,000 for the net assets of SHER CO. the carrying values for SHER’s assetsand liabilities on June 1, 20x9 follow:150,000180,000320,000100,000130,000CashAccounts ReceivableCapitalized Software CostsGoodwillLiabilitiesO

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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