Mary Limited acquired the identifiable assets and liabilities of Joan Limited. The items acquired are: equipment $$296000$; inventories $$160000$; accounts receivable $$90000($fair value $$104000)$; patents $$60000$; accounts payable $$80000.$

The net assets were acquired for consideration of $$530000.$ The difference on acquisition is:

Question $1$Answer

a$.$

Goodwill of $$10000$

b$.$

Goodwill of $$170000$

c$.$

Gain on bargain purchase of $$10000$

d$.$

Gain on bargain purchase of $$156000$

e$.$

Goodwill of $$4000$