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Manchester has 10 million $1 issued ordinary shares. At 1 May 20X9 Bristol purchased 70%...

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Accounting

Manchester has 10 million $1 issued ordinary shares. At 1 May 20X9 Bristol purchased 70% of manchester's $1 ordinary shares for $8000000. At that date, Manchester had net assets with a fair value of 8750000 and its share price was $1.20. The non-controlling interest is values using the share price at the date of acquisition. What was the total goodwill arising on acquisition at 1 may 20X9

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