Hi Senior Consultant,

I have one last request please!

To give you a bit of background: On 30 June 2022, our client, Apple Ltd acquired 75% of the ordinary shares of Banana Ltd for $70,000 cash. Apple Ltd is preparing its consolidated accounts for the financial year ending 30 June 2023.

Additional Information:

• At acquisition date, Banana Ltds tangible non-current assets had a fair value of $60,000. Banana Ltd has not revalued the tangible non-current assets in its own accounting records.
• After undertaking market research, Banana Ltd compiled an extensive data base of potential customers and their contact details. Banana Ltd has not recognised the customer data base as an asset in its own accounts. At acquisition date, Apple Ltd estimated that Banana Ltds customer data base could be sold for $15,000.

Determine if any goodwill or gain on bargain of purchase arises from the business combination and calculate its amount. (9 marks)

Can you please help me with the queries in Appendix A?The Statements of Financial Position of Banana Ltd at 30 June 2022 and at 30 June 2023 are presented below:

Banana Ltd Statement of Financial position as at

=