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Alpha Company acquired Beta Company on the first of July 2018 for $100 000. At the date of acquisition, Beta Company had the following assets

Alpha Company acquired Beta Company on the first of July 2018 for $100 000. 

 

At the date of acquisition, Beta Company had the following assets and liabilities:

 

Carrying Amount

$

Recoverable Amount

$

Fair Value

$

Assets

 

 

 

Land

100 000

130 000

150 000

Machinery

  50 000

   30 000

  40 000

Cash

  20 000

 

 

 

 

 

 

Liabilities

 

 

 

Loan

105 000

 

 

Contingent Liabilities

  80 000

 

 

 

Required

What is the amount (if any) of the goodwill on acquisition of the subsidiary, 1 July 2018?

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