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Determine the goodwill

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Reference no: EM132946465

Question - 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.

Required - Determine the goodwill.

Reference no: EM132946465

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