PF Inc. acquired a 25% interest in RS Co years ago. On January 1, 20x1, PF acquired an additional 50% interest in RS for P500,000. On this date, RS's net identifiable assets have a fair value of P900,000, and PF's previous investment in RS has a carrying amount of P250,000 and a fair value of P280,000. PF opted to value the NCI at a proportionate share. How much is the goodwill?
PF Inc. acquired a 25% interest in RS Co years ago. On January 1, 20x1, PF acquired an additional 50% interest in RS for P500,000. On this date, RS's net identifiable assets have a fair value of P900,000, and PF's previous investment in RS has a carrying amount of P250,000 and a fair value of P280,000. PF opted to value the NCI at a proportionate share. How much is the goodwill?
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 18E
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PF Inc. acquired a 25% interest in RS Co years ago. On January 1, 20x1, PF acquired
an additional 50% interest in RS for P500,000. On this date, RS's net identifiable
assets have a fair value of P900,000, and PF's previous investment in RS has a
carrying amount of P250,000 and a fair value of P280,000. PF opted to value the NCI
at a proportionate share. How much is the
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