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Summer acquired 70% of the ordinary shares of Winter for 200,000 on 31 December 20X3 when the net assets of Winter were 220,000. The goodwill

Summer acquired 70% of the ordinary shares of Winter for 200,000 on 31 December 20X3 when the net assets of Winter were 220,000.

The goodwill arising on the acquisition of Winter using the proprietary concept is:

a.

20,000 negative

b.

46,000 positive

c.

46,000 negative

d.

20,000 positive

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