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On 31 December 20x1, AAA Ltd acquired 70% equity interest in BBB Ltd by paying a consideration of $120,000 to the shareholders when the fair

On 31 December 20x1, AAA Ltd acquired 70% equity interest in BBB Ltd by paying a consideration of $120,000 to the shareholders when the fair value of BBB Ltd's identifiable net assets was ascertained to be $100,000.

a) What is the amount of goodwill if any?

b) What is the amount of non-controlling interest (NCI) at acqusition assuming AAA measures any NCI in the subsidiary at the proportionate share of the subsidiary's identifiable net assets?

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