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Question - Sun Limited bought the business of Moon Limited for $600,000. Two-thirds was paid immediately and the balance was to be paid in two years later. The relevant discount rate is 12%.
The assets taken over by the company had a fair value of $700,000 and the liabilties taken over had a fair value of $250,000. What the goodwill acquired by Sun Limited?
a. Positive Goodwill $109,439
b. Positive goodwill of $150,000
c. Negative Goodwill $50,000
d. Negative Goodwill of $150,000
Prepare the acquisition analysis assuming that Bosco Ltd uses the full goodwill method when accounting for non-controlling interests.
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