WODNTE On June 30, 2020, Happee Inc. purchased goodwi acquired the net assets of Beam Corp. During 2020, Happee incurred .noitoefte ORAWOT OADIA of P125,000 when it UGU additional cost of developing the goodwill, by training Beam employees (P50,000) and hiring additional Beam employees (P25,000). How much -16xip!i should Happee report as goodwill on its December 31, 2020 Financial Position? * InemezseaA evitsmmu2

WODNTE On June 30, 2020, Happee Inc. purchased goodwi acquired the net assets of Beam Corp. During 2020, Happee incurred .noitoefte ORAWOT OADIA of P125,000 when it UGU additional cost of developing the goodwill, by training Beam employees (P50,000) and hiring additional Beam employees (P25,000). How much -16xip!i should Happee report as goodwill on its December 31, 2020 Financial Position? * InemezseaA evitsmmu2

Name: Show the solution in good accounting form WODNTEOn June 30, 2020, Happ
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Description: Show the solution in good accounting form WODNTEOn June 30, 2020, Happee Inc. purchased goodwiacquired the net assets of Beam Corp. During 2020, Happee incurred.noitoefteof P125,000 when itUGUadditional cost of developing the goodwill, by training Be

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 11MCQ

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On June 30, 2020, Happee Inc. purchased goodwill of P125,000 when it acquired the net assets of Beam Corp. During 2020, Happee incurred additional cost of developing the goodwill, by training Beam employees (P50,000) and hiring additional Beam employees (P25,000). How much should Happee report as goodwill on its December 31, 2020 Financial Position?
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