What amount should be recorded as goodwill on the date of the purchase?
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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High Company purchased for cash at P50 per share all 150,000 ordinary shares outstanding of another entity. The
The fair value of property, plant, and equipment on same date was P800,000 in excess of carrying amount.
What amount should be recorded as
- 1,500,000
- 800,000
- 700,000
- 0
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