Alpha Company acquired Beta Company on the first of July 2018 for $100 000.

At the date of acquisition, Beta Company had the following assets and liabilities:

Carrying Amount

$

Recoverable Amount

$

Fair Value

$

AssetsLand100 000130 000150 000Machinery 50 000 30 000 40 000Cash 20 000LiabilitiesLoan105 000Contingent Liabilities 80 000

Required

What is the amount (if any) of the goodwill on acquisition of the subsidiary, 1 July 2018?

Group of answer choices

$75 000

None of the given answers

$25 000

Goodwill is not required to be recognised

$35 000

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