Parent Company purchases 80% of the outstanding shares of Subsidiary Company for P9,000,000. The carrying value of Subsidiary Company’s net assets at the time of acquisition was P6,000,000 and had a fair value of P8,000,000. Determine the following: Non-controlling interest arising from the consolidation if it is to be computed using the full (fair value basis of “Full/Gross-up” Goodwill, assuming the cost of acquisition includes a control premium of P400,000. Goodwill arising from the consolidation if the non-controlling interest is stated at fair value of P2,000,000.

Parent Company purchases 80% of the outstanding shares of Subsidiary Company for P9,000,000. The carrying value of Subsidiary Company’s net assets at the time of acquisition was P6,000,000 and had a fair value of P8,000,000. Determine the following: Non-controlling interest arising from the consolidation if it is to be computed using the full (fair value basis of “Full/Gross-up” Goodwill, assuming the cost of acquisition includes a control premium of P400,000. Goodwill arising from the consolidation if the non-controlling interest is stated at fair value of P2,000,000.

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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Parent Company purchases 80% of the outstanding shares of Subsidiary Company for P9,000,000. The carrying value of Subsidiary Company’s net assets at the time of acquisition was P6,000,000 and had a fair value of P8,000,000. Determine the GOOWILL arising from the consolidation if it is to be computed using the full fair value basis of “Full/Gross-up” Goodwill, assuming the cost of acquisition includes a control premium of P400,000.
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Parent Company purchases 80% of the outstanding shares of Subsidiary Company for P9,000,000. The carrying value of SubsidiaryCompany’s net assets at the time of acquisition was P6,000,000 and had a fair value of P8,000,000. Determine the following:1. Non-controlling interest arising from the consolidation if it is to be computed using the full (fair valuebasis of “Full/Gross-up” Goodwill, assuming the cost of acquisition includes a control premium ofP400,000.2. Goodwill arising from the consolidation if the non-controlling interest is stated at fair value ofP2,000,000.3. Goodwill arising from the consolidation if the 100,000, P50 par value shares of the subsidiary arecurrently selling at 90/share.4. Assume Parent purchased 80% of Subsidiary shares for P6,300,000; determine the goodwill arisingfrom the consolidation if the non-controlling interest is stated at fair value of P2,000,000.
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