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What the difference on acquisition

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Problem - Elsa Limited acquired the identifiable assets and liabilities of Anna Limited for $265,000. The items acquired, stated at fair value, are: equipment $148,000; inventories $80,000; accounts receivable $52,000; patents $30,000; accounts payable $40,000. What the difference on acquisition?

a. goodwill of $5,000

b. goodwill of $85,000

c. gain on bargain purchase $5,000

d. gain on bargain purchase $85,000

Reference no: EM132818513

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