Bob acquired 80% of the voting equity shares of Bill. Bill had the following equity at...

Transcribed Image Text:

Bob acquired 80% of the voting equity shares of Bill. Bill had the following equity at the date of acquisition: $ 1,000,000 800,000 Ordinary shares $1 Retained earnings The cost of the investment was $1,500,000 and the fair value of the non-controlling interest at acquisition was $360,000. What was the goodwill on acquisition of Bill? A $420,000 B $60,000 C $300,000 D $48,000 Bob acquired 80% of the voting equity shares of Bill. Bill had the following equity at the date of acquisition: $ 1,000,000 800,000 Ordinary shares $1 Retained earnings The cost of the investment was $1,500,000 and the fair value of the non-controlling interest at acquisition was $360,000. What was the goodwill on acquisition of Bill? A $420,000 B $60,000 C $300,000 D $48,000

Answer rating: 100% (QA)

The detailed ... View the full answer