Moregoodwill Ltd acquired all the assets and liabilities of Lessgoodwill Ltd on 30 June 2021. The carrying amounts and estimated fair v over at acquisition are as follows: Land Inbentory Plant Accounts Payable Borrowings Carrying amount ($) 1,050,000 2,000,000 2,900,000 175,000 Fair value ($) 930,000 1,890,000 3,180,000 175,000 100,000 100,000 h addition to these assets and liabilities, the existence of brand names was identified and valued at $150,000. A contingent liabil rice paid was $5.9 million and costs of $20,000 were incurred in the purchase. uired: late the amount of goodwill that would be recorded in the financial records of Moregoodwill Ltd. Show all workings (1 e toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). 10pt I! I!!
Moregoodwill Ltd acquired all the assets and liabilities of Lessgoodwill Ltd on 30 June 2021. The carrying amounts and estimated fair v over at acquisition are as follows: Land Inbentory Plant Accounts Payable Borrowings Carrying amount ($) 1,050,000 2,000,000 2,900,000 175,000 Fair value ($) 930,000 1,890,000 3,180,000 175,000 100,000 100,000 h addition to these assets and liabilities, the existence of brand names was identified and valued at $150,000. A contingent liabil rice paid was $5.9 million and costs of $20,000 were incurred in the purchase. uired: late the amount of goodwill that would be recorded in the financial records of Moregoodwill Ltd. Show all workings (1 e toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). 10pt I! I!!
Chapter1: Financial Statements And Business Decisions
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Moregoodwill Ltd acquired all the assets and liabilities of Lessgoodwill Ltd on 30 June 2021. The carrying amounts and estimated fair val
over at acquisition are as follows:
Carrying amount ($)
1,050,000
2,000,000
2,900,000
175,000
100,000
Fair value ($)
Land
Inbentory
Plant
Accounts Payable
Borrowings
930,000
1,890,000
3,180,000
175,000
100,000
h addition to these assets and liabilities, the existence of brand names was identified and valued at $150,000. A contingent liabil
rice paid was $5.9 million and costs of $20,000 were incurred in the purchase.
uired:
late the amount of goodwill that would be recorded in the financial records of Moregoodwill Ltd. Show all workings (1
e toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
Arial
10pt
IUS
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11
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