A Ltd acquires all the net assets of B Ltd and applies the requirements of AASB 3 Business Combinations. Details regarding the net assets of B Ltd are as follows:

	Carrying amount	Fair value
	$	$
Assets
Cash	50,000	50,000
Furniture	20,000	15,000
Fittings	40,000	20,000
Accounts receivable	25,000	20,000
Goodwill	10,000	10,000
Liabilities
Accounts payable	20,000	20,000

Assume A Ltd acquires all the net assets of B Ltd by issuing 100,000 shares at a fair value of 80 cents each. The journal entry by A Ltd to record the acquisition of the net assets of B Ltd would include:

	a)	gain on bargain purchase of $15,000.
	b)	goodwill of $15,000.
	c)	gain on bargain purchase of $25,000.
	d)	gain on bargain purchase of $5,000.