O Wheddon Co purchased 60,000 ordinary shares in Raleigh Co for $85,000 five years ago, when...

 

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O Wheddon Co purchased 60,000 ordinary shares in Raleigh Co for $85,000 five years ago, when Raleigh Co's retained earnings were $20,000. Raligh Co's equity and reserves at 31 July 20X9 were as follows: Ordinary shares $1 Retained earnings 80,000 70,000 The fair value of the non-controlling interest at acquisition was $22,000. What was the goodwill arising on acquisition of Raleigh Co? A $7,000 $10,000 C $25,000 D $43,000 O Wheddon Co purchased 60,000 ordinary shares in Raleigh Co for $85,000 five years ago, when Raleigh Co's retained earnings were $20,000. Raligh Co's equity and reserves at 31 July 20X9 were as follows: Ordinary shares $1 Retained earnings 80,000 70,000 The fair value of the non-controlling interest at acquisition was $22,000. What was the goodwill arising on acquisition of Raleigh Co? A $7,000 $10,000 C $25,000 D $43,000