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What amount of loss on impairment of goodwill twilight

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Reference no: EM132569865

Question 1: TWilight Corporation acquired End-of-the-World Products on January 1, 2010 for P4,000,000, and recorded goodwill of P750,000 as a result of that purchase. At December 31, 2010, the End-of-the-World Products Division had a fair value of P3,400,000. The net identifiable assets of the Division (excluding goodwill) had a fair value of P2,900,000 at that time. What amount of loss on impairment of goodwill should Twilight record in 2010?

Select one:

a. P250,000

b. P600,000

c. P350,000

d. P0

Reference no: EM132569865

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