Question on: JAMB Accounting - 2023
Based in the data given below, determine the goodwill:
|
₦ | |
|
Plant and Machinery | 190000 |
|
Motor Vehicle | 170000 |
| Stock | 60000 |
|
Current Liabilities | 50000 |
|
Purchase consideration | 40000 |
A
₦110,000
B
₦30,000
C
₦90,000
D
₦80,000
Ask EduPadi AI for a detailed answer
Correct Option: B
Goodwill = Purchase consideration - Value of assets
Total value of assets = 190,000 + 170,000 + 60,000 - (50,000)
= 370,000
Hence, goodwill = 400,000 - 370,000
= ₦30,000
Add your answer
Please share this, thanks!
No responses