ACCA · Question 26 · Financial Reporting

Section B - Case 3: BioHealth Holdings

BioHealth Holdings acquired 75% of the equity share capital of MedTech Co on 1 January 20X8 for $8,500,000. At the acquisition date, the fair value of MedTech's net assets was $9,200,000. BioHealth values the non-controlling interest (NCI) at fair value, which was $2,600,000 at the acquisition date.

Calculate the goodwill arising on the acquisition of MedTech Co. (Provide the numeric value in dollars).