Reference no: EM132948035
Questions -
Q1. A Co. acquired 60% interest in the net assets of B Co. for P1,500,000. On acquisition date, B Co.'s identifiable assets and liabilities have fair values of P5,000,000 and P2,800,000, respectively.
Additional information:
B Co. has an unrecorded customer list with fair value of P80,000. The customer list is separable.
A Co. is renting out a license to B Co. under an operating lease. The terms of the lease compared with market terms are unfavorable. The fair value of the differential is P30,000.
A Co. opted to measure the NCI at fair value. An independent valuer assessed the fair value of the NCI to be P800,000.
Requirement - Compute the goodwill.
Q2. On January 1, 20x1, Row Co. acquired 10,000 out of the 100,000 outstanding shares of Boat Co. for P30,000. Row Co. classified the shares as financial asset measured at fair value through profit or loss. The shares were trading at P5 on December 31,20x1. On July 1, 20x2, Row Co. acquired additional 80,000 shares of Boat Co. at P8 per share, the quoted price on that date. The outstanding shares of Boat Co. remained at 100,000 shares. Boat Co.'s net identifiable assets have a fair value of P665,000. Row Co. elected to measure NCI at 'proportionate share'.
Requirement - Compute for the goodwill.
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