3 1 point On July 1, 2019, Cali Ltd acquired 70% of the share capital of Subsidiary Ltd for $900 000. At the date of acquisition, the total shareholders' equity in Subsidiary Ltd was made up as follows: Share capital Retained earnings General Reserve $450 000 $250 000 $100 000 $800 000 At the date of acquisition, all the identifiable assets and liabilities of Subsidiary Ltd were recorded at amounts equal to fair value except for land. The carrying amount for land in the financial records of Small Ltd was $8 000. The fair value of land was $11 000. The fair value of the NCI on acquisition date is $250 000. The full goodwill method is adopted in this case. Required What is the amount of Goodwill allocated to Cali Ltd on acquisition date? (Please provide a numerical value without a sign ($,+ or -) punctuation, or space.) Type your answer... Previous Next