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What goodwill to be recognised on consolidation of high ltd

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Reference no: EM132928173

Problem 1: On 1 July 2019 High Ltd acquired a 100% interest in Low Ltd. At that time Low Ltd had goodwill of $6 000 recorded in its statement of financial position as a result of a previous business combination. The total goodwill arising on High's acquisition of Low was $10 000. The goodwill to be recognised on consolidation as a result of High's acquisition of Low is:

Option 1: $6 000
Option 2: $4 000
Option 3: $10 000
Option 4: $16 000

Reference no: EM132928173

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