Reference no: EM132967616
Questions -
-Toni Company purchased the Paul Company for P13,985,000 cash on January 1, 2020. The book value of Pauleen Company's net assets as reported on its December 31, 2019, statement of financial position as P12,620,000. Toni's December 31, 2019 analysis indicated that the fair value of Pauleen's tangible assets exceeded the book value by P560,000, and the fair value of identifiable intangible assets exceeded book value by P245,000. How much goodwill should be recognized by Toni Company when recording the purchase of Paul?
-Kuh Lafuh Company has purchased a customer list and an ongoing research project for a total of P400,000. Kuh uses the expected cash flow approach for estimating the fair value of these two intangibles. The appropriate interest rate is 7%. The potential future cash flows from the two intangibles, and their associated probabilities, are as follows: Customer List Outcomes 1 - 20% probability of cash flows of P50,000 at the end of each year for 5 years. Outcomes 2 - 30% probability of cash flows of P30,000 at the end of each year for 4 years. Outcome 3 - 50% probability of cash flows of P10,000 at the end of each year for 3 years. Ongoing Research Project Outcomes: 1 - 10% probability of cash flow of P500,000 at the end of each year for 10 years. Outcomes: 2 - 10% probability of cash flow of P10,000 at the end of each year for 4 years. Outcome 3 - 80% probability of cash flows of P100 at the end of each year for 3 years. How much should be recognized as a customer list?
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