GT acquired 90% of QS's equity shares on 1 June 20X1. Consideration transferred comprised: Cash paid on 1 June 20X1 of $150,000 Cash payable on 1 June 20X3 of $80,000 100,000 $1 shares in GT with a market value of $3.40 each on 1 June 20X1 A property with a carrying amount of $400,000 and a fair value of $490,000 The fair value of QS's net assets on 1 June 20X1 was $900,000. GT elected to measure non-controlling interests in QS at their fair value of $110,000 at acquisition. An appropriate discount rate is 4%. What is the goodwill arising on the acquisition of GT on 1 June 20X1? Give your answer to the nearest whole $.

Answer rating: 100% (QA)

To calculate the goodwill arising on the acquisition of QS by GT we need to determine the total ... View the full answer