On September 1, 20X7, CanAir Limited Decided to Buy 100

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The Answer is Calculation of goodwill:

\begin{array}{ll} ext { Fair value of consideration paid } &\$ 1,215,000\\end{array}

Consideration received:
Fair value of net assets acquired:

\begin{array}{lll} ext { Cash } & \$ 80,000 \ ext { Accounts receivable } & 35,000 \ ext { Inventories } & 20,000 \ ext { Marketable securities } & 45,000 \ ext { Capital assets } & 1,350,000 \ ext { Internet domain name } & 55,000 \ ext { Custcaner lists } & 35,000 \ ext { Deferred tax assets } & 225,000 \ ext { Current liabilities } & ( 280,000 ) \ ext { Long-tem liabilities } & \underline{( 620,000 )}& \underline{945,000}\ ext { Coodwill }&& \underline{\$270,000}\end{array}

Can Air Limited
Consolidated Statement of Financial Position
September 1, 20X 7
$Calculation of goodwill: \begin{array}{ll} ext { Fair value of consideration paid } &\$ 1,215,000\ \end{array} Consideration received: Fair value of net assets acquired: \begin{array}{lll} ext { Cash } & \$ 80,000 \ ext { Accounts receivable } & 35,000 \ ext { Inventories } & 20,000 \ ext { Marketable securities } & 45,000 \ ext { Capital assets } & 1,350,000 \ ext { Internet domain name } & 55,000 \ ext { Custcaner lists } & 35,000 \ ext { Deferred tax assets } & 225,000 \ ext { Current liabilities } & ( 280,000 ) \ ext { Long-tem liabilities } & \underline{( 620,000 )}& \underline{945,000}\ ext { Coodwill }&& \underline{\$270,000} \end{array} Can Air Limited Consolidated Statement of Financial Position September 1, 20X 7 *Note: The purchase price of $1,215,000 is paid with cash from the marketable securities of $480,000 and an issue of shares totalling $735,000.$ *Note: The purchase price of $1,215,000 is paid with cash from the marketable securities of $480,000 and an issue of shares totalling $735,000.

On September 1, 20X7, CanAir Limited Decided to Buy 100

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