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Crash Co acquired 70% of Bang Co’s 100,000 $1 ordinary shares for $800,000 when the retained earnings of Bang Co were $570,000.
Bang Co also has an internally developed customer list which has been independently valued at $90,000. The non-controlling interest in Bang Co was judged to have a fair value of $220,000 at the date of acquisition. What was the goodwill arising on the acquisition?
? $130,000
? $450,000
? $380,000
? $350,000
Why Intangible asset is not included in the Goodwill calculation?
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