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What is the value of goodwill

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Problem - On 1 July 2020, DDF Ltd purchasd the Qinghua Ltd for the consideration of: Cash $250 000 Land the carrying amount of the land was $150 000; fair value was $185 000.

The statement of ?nancial position of the Qinghua as at the date of acquisition shows assets of $300 000 and liabilities of $85 000. All assets were fairly valued except for building, which had carrying amount of $60 000, but has a fair value of $75 000. What is the value of Goodwill?

Reference no: EM132615995

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