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How much goodwill has been created

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Thad Ltd. acquired 100% of the common shares of Zoe Co. for $560,000. At the time of acquisition, Zoe had the following:

                                     Book Value                Fair value

Inventory             BV$1,400,000            FV$1,400,000

Land                     BV 84,000           FV 119,000

Liabilities               BV 980,000             FV 980,000

Problem 1: In this acquisition, how much goodwill has been created?

Reference no: EM132738016

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