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What is the amount of consolidated net identifiable asset

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Question - What is the amount of the consolidated net identifiable asset after acquisition?

On Januarv1 2021, NOP acquires 100% interest in ORS in exchange fer NOP's 10,000 shares with par value per share of P20 and fair value per share of P200. ORS's net identifiable assets have fair value of P1,920,000 and a book value of P1 350,000. In addition, NOP agrees to provide an additional payment of P400,000 if QRS's 2021 net income will except P3,600,000. The fair value of the contingent consideration is P280000. The net identifiable asset of NOP have a book value of P3,250,000 and the fair value of P3,375,000. Compute for the consolidated net identifiable asset after the acquisition.

Reference no: EM132842750

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