Hungry Limited acquired 100% of the share capital of Jane Limited for a purchase consideration of $320 000. At acquisition date, the net fair value of Jane Ltd's assets, liabilities and contingent liabilities was $250 000 including goodwill with a carrying amount of $20 000. The unrecorded amount of goodwill that must be recognised on the consolidation worksheet is:

Select one or more:

a.$50 000.

b.$70 000.

c.$90 000.

d.$15 000.

Chancellor Limited provided a loan of $1 500 000 to its subsidiary Park Limited. On consolidation, which of the following adjustments is needed in relation to this intragroup loan?

a.No adjustment needed

b.Dr Loan receivable from subsidiaries $1 500 000

Cr Loan payable to parent $1 500 000

c.Dr Loan payable from parent $1 500 000

Cr Loan receivable from subsidiaries $1 500 000

d.Dr Loan payable to parent $1 500 000

Cr Cash $1 500 000