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How much is the amount of goodwill from consolidation

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Reference no: EM133105830

Question - The statement of Financial position of P Company and S Company prior to business combination are presented below:

January 1, 2011

P Company

S Company

Cash

9,000

300

Inventory - at approx. FV

6,000

600

Fixed assets (net)

15,000

2,100*

Total assets

30,000

3,000

Current liabilities

1,800

300

Common stock,P1 par value

3,000

300

APIC

9,000

600

Retained earnings

16,200

1,800

Total liabilities and SHE

30,000

3,000

*FV at Jan 1 is P4,500.

Required - If on January 1, 2011, P Co acquires 100% of the common stock of S Company paying 6,000 cash. How much is the amount of goodwill from consolidation?

Reference no: EM133105830

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