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Calculate any goodwill arising on the acquisition of sa

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Reference no: EM132557532

HX acquired 100% of SA's equity shares on 1 July 2010 for R342,000. On 1 July 2010 the property plant and equipment of SA had a fair value of R350,000 and a book value of R325,000. All other assets and liabilities had a fair value approximately equal to their book value.

SA has R200,000 R1 equity shares in issue and at 1 July 2010 its reserves comprised share premium of R40,000 and retained earnings of R62,000.

Question 1: Calculate any goodwill arising on the acquisition of SA.

Reference no: EM132557532

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