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What is the amount of goodwill

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Question - Papa Company acquires 15 percent of Sese Company's common stock for P600,000 cash and carries the investment using the cost model. A few months later, Papa purchases another 60 percent of Sese Company's stock for P2,592,000 which includes P 200,000 control premium. At that date, Sese Company reports identifiable assets with a book value of P4,680,000 and a fair value of P6,120,000, and it has liabilities with a book value and fair value of P2,280,000. The fair value of the 25% non-controlling interest in Sese Company is P1,080,000. What is the amount of goodwill if NCI is measured at proportionate share?

A. 480,000

B. 360,000

C. 432,000

D. 416,000

Reference no: EM132983674

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