Solution-What was the consideration paid by igloo for the

What was the consideration paid by igloo for the shares

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Question - On July 1, 2017, Igloo Co. acquired all of the ordinary shares in Super Co. At that date, the shareholder's equity of Super was as follows:

Issued capital (10,000,000 shares) 10,000,000

Retained profits 8,000,000

Total 18,000,000

Igloo Co. used its control to have Super Co. revalue its assets to fair value in its financial statements, resulting in a revaluation increment of P2,000,000. This revaluation led to the recognition of a deferred tax liability of P600,000. The amount of goodwill included in the consolidated statement of financial position was P1,000,000. What was the consideration paid by igloo for the shares in super co.?

Reference no: EM132641256

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What was the consideration paid by igloo for the shares

Reference no: EM132641256

Reference no: EM132641256

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