Rooney Co acquired of $ equity share capital of Marek Co its only subsidiary

on January X for $ when the retained earnings of Marek was $ The

fair value of the noncontrolling interest in Marek Co at acquisition was $ At that date

the fair values of Marek Co\'s net assets were equal to their carrying amounts, except for a

building which had a fair value of $above its carrying amount and years remaining

useful life.

What amount will be presented as goodwill or negative goodwill in the consolidated

statement of financial position of Rooney Co as at January X

In December X Rooney Co revalued its corporate headquarters. Prior to the revaluation,

the carrying amount of the building was $m and it was revalued to $m

Rooney Co also revalued a sales office on the same date. The office had been purchased for

$ earlier in the year, but subsequent discovery of defects reduced its value to

$ No depreciation had been charged on the sales office and any impairment loss is

allowable for tax purposes.

Rooney Co s income tax rate is revaluation gains and losses are not permitted in local

tax laws

During the year, Rooney Co shifted out from one of its corporate offices and let it out for $

pm The carrying value of the office on the date of such change was m and its

market value was assessed to be m Rooney Co carried Investment Property under IAs at

Fair value which had fallen to m by the year end due to market conditions.

In accordance with IAS Income Taxes, what is the impact of the property revaluations on

the income tax expense of Rooney Co for the year ended December X Also show the

charge to SOPL on account of the above change in use