On 1 June 2019 Goodwin Limited Acquired the Business of Monty

Multiple Choice

On 1 June 2019 Goodwin Limited acquired the business of Monty Inc. for $280 000. The carrying amount of Monty Inc's net assets at the time of the acquisition was $215 000 while independent valuers calculated their fair value at $250 000. Goodwin Limited should debit 'Goodwill' for the amount of:

A) $0.
B) $30 000.
C) $35 000.
D) $65 000.