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How to calculate goodwill

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Inky Limited acquired 80% of the shares in Binky Limited on 1 January 2017 when the retained earnings of Binky Limited were $5,500 and the balance on its general reserve was $1,500.

Inky invested $10,000 in Binky. Binky's $1 ordinary shares are $4,545.

Question 1: Calculate Goodwill.

Reference no: EM132545481

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