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5 a) Kastura Ltd acquired Skoll Ltd on 1 April 2021. It recorded a goodwill on the acquisition and recorded amortization on a straight-line basis.

5 a) Kastura Ltd acquired Skoll Ltd on 1 April 2021. It recorded a goodwill on the acquisition and recorded amortization on a straight-line basis. Goodwill, at cost Less: Accumulated amortization Carrying amount $420,000 $ 10,500 $409,500 Requirement: Is the company's treatment of the goodwill in accordance with the requirements of AASB 138 'Intangible Assets'? Justify your answer using AASB 138 'Intangible Assets'. State the carrying amount of this asset, if it is different from above. ANSWER HERE (Marks: 3)

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