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What amount should Nineveh report as goodwill

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Question - On January 1, 2018, Nineveh purchased Nazareth Company at a cost that resulted in recognition of goodwill of P7,500,000 having an expected benefit period of 10 years. During January of 2019, Nineveh spent an additional P3,000,000 on expenditures designed to maintain goodwill. Due to these expenditures, at December 31, 2019, Nineveh estimated that the benefit period of goodwill was indefinite. In its December 31, 2019 balance sheet, what amount should Nineveh report as goodwill?

Reference no: EM132576302

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