What amount reported as goodwill as a result of acquisition

Reference no: EM132703171

Problem 1: At the current year-end, Fournier Company purchased for P60 per share all 200,000 of another entity's outstanding ordinary shares. On this date, the acquires statement of financial position showed net assets of P10,000,000. Additionally, the fair value of the acquiree's identifiable assets on this date was P800,000 in excess of carrying amount. In the statement of financial position, what amount should be reported as goodwill as a result of the acquisition?

Reference no: EM132703171

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