Reference no: EM132659175

Question - The Mooneye Company acquired a 70% interest in The Swain Company for P1,420,000 when the fair value of Swain's identifiable assets and liabilities was P1,200,000. Mooneye acquired a 65% interest in The Hadji Company for P300,000 when the fair value of Hadji's identifiable assets and liabilities was P640,000. Mooneye measures non-controlling interests at the relevant share of the identifiable net assets at the acquisition date. Neither Swain nor Hadji had any contingent liabilities at the acquisition date and the above fair values were the same as the carrying amounts in their financial statements. Annual impairment reviews have not resulted in any impairment losses being recognized. Under PFRS3Business combinations, what figures in respect of goodwill and of gains on bargain purchases should be included in Mooneye's consolidated statement of financial position?