On October 20, 2018, Toffeenut Project Company purchased all the assets and assumed all the liabilities of Starbucks Company for P9,000,000 cash. Starbucks Company's total identifiable asset values were: Book values- P14,000,000; Fair values- P15,000,000. The total liabilities of Starbucks Company were P4,200,000. What is the amount of goodwill that Toffeenut Project Company should be recorded
On October 20, 2018, Toffeenut Project Company purchased all the assets and assumed all the liabilities of Starbucks Company for P9,000,000 cash. Starbucks Company's total identifiable asset values were: Book values- P14,000,000; Fair values- P15,000,000. The total liabilities of Starbucks Company were P4,200,000. What is the amount of goodwill that Toffeenut Project Company should be recorded
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 11PB: On May 1, 2015, Zoe Inc. purchased Branta Corp. for $15,000,000 in cash. They only received...
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On October 20, 2018, Toffeenut Project Company purchased all the assets and assumed
all the liabilities of Starbucks Company for P9,000,000 cash. Starbucks Company's total
identifiable asset values were: Book values- P14,000,000; Fair values- P15,000,000.
The total liabilities of Starbucks Company were P4,200,000.
What is the amount of goodwill that Toffeenut Project Company should be recorded
on October 20, 2018?
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