What amount of goodwill of should be recorded by the acquire

Reference no: EM132703162

Problem 1: At year-end, DuPre Company reported assets of P10,000,000 and liabilities of P4,000,000. The carrying amounts of these assets approximate fair value, except for land which has a fair value that is P600,000 greater than the carrying amount. Jacqueline Company paid P12,000,000 to acquire DuPre Company at year-end. What amount of goodwill of should be recorded by the acquirer as a result of this purchase?

Reference no: EM132703162

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