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1 April 20X2, Prog Co acquired 75,000 of Seng Co's 100,000 S1 equity shares. ...

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Accounting

1 April 20X2, Prog Co acquired 75,000 of Seng Co's 100,000 S1 equity shares.

On A Phoebi

The acquisition was made through a share exchange of two shares in Prog Co for every three shares acquired in Seng Co. In addition to the share exchange, Prog Co also paid immedate cash coruderdin of $2 per share acquired

On 1 April 20X2 the stock market price of Prog Co's and Seng Co's shares was $4 and $3 per share respectively.

Prog Co's policy is to value non-controlling interests at fair value at acquisition.the idenlifable nel assels of Seng Co al 1 April 20X2 was $120.000

What is the goodwill arising on the acquisition of Seng Co at 1 April 20X2?

O $260,000

O $305,000

O $230,000

O $330,000

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