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What is the goodwill or gain on bargain purchase

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Question - On January 2016 A corp. and b corp. entered into a contract of merger wherein A corp. will issue 100,000 ordinary shares of P10 and quoted Price of P21 to the existing shareholders of B corp. in exchange for the net assets of B crop. A Crop. Paid acquisition related cost of business combination amounting to P100,000 and stock issuance cost amounting to P200,000. As of December 31, 2016, A corp. has total assets with book value of P50,000,000 and fair market value of P60,000,000. While B corp. has a total assets with book value of P5,000,000 and fair market value of P4,000,000 The net assets of B corp. on December 31,2016 is P 2,600,000. What is the goodwill or gain on bargain purchase arising from business combination?

Reference no: EM133135777

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