On 1 July 20X0, Mobile Ltd Acquired 65% of Phone

Multiple Choice

On 1 July 20X0, Mobile Ltd acquired 65% of Phone Ltd for $1 500 000, when the shareholders' equity of Phone Ltd comprised: paid up capital of $1 000 000, retained profits of $500 000 and general reserve of $200 000.The control date fair value of the non-controlling shareholders' ownership interest was $780 000.On 1 July 20X1, Mobile Ltd acquired a further 10% of Phone Ltd for $250 000, when the shareholders' equity of Phone Ltd comprised paid up capital of $1 000 000, retained profits of $700 000 and general reserve of $200 000.At that date, the fair value of the non-controlling shareholders' ownership interest was $1 250 000.No dividends have been paid by Phone Ltd.
-If the full method of measuring goodwill is adopted, what is the carrying amount of consolidation goodwill at 30 June 20X2 if impairment of $150 000 has been recognised?

A) $430 000
B) $395 000
C) $580 000
D) $850 000