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Mac acquired 100% of Cheese for $200.At acquisition date Cheese had equity of $170, comprised...

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Accounting

Mac acquired 100% of Cheese for $200.

At acquisition date Cheese had equity of $170, comprised as follows:

Capital

100

Asset revaluation reserve

20

Retained earnings

50

Equity

170

The book value of net assets was considered to be close to fair value,

except for the following:

Cost

Carrying amount

Fair value

Intangibles

0

0

30

The tax rate is 30%.


What is the amount of goodwill acquired by Mac?

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