Solution-Explain about the consideration transfer

Explain about the consideration transfer

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Reference no: EM132674406

Problem 1: The PURPLE Corp. acquired 100% of the INDIGO Co. for a consideration transferred of P 112,000,000. At the acquisition date, the carrying amount of INDIGO's net assets was P 100,000,000 and their fair value was P 120,000,000. How should the difference between the consideration transferred and the net assets acquired be presented in PURPLE's financial statements, according to IFRS 3, Business Combination?

Reference no: EM132674406

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Explain about the consideration transfer

Reference no: EM132674406

Reference no: EM132674406

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