=+1. On 1 January 2005, THOMPSON purchased 60,000 1 ordinary shares in ROSS Limited (ROSS), a company
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=+1. On 1 January 2005, THOMPSON purchased 60,000 €1 ordinary shares in ROSS Limited (ROSS), a company that is involved in the tea trade but whose focus is on the price of the product rather than the quality. The retained earnings of ROSS stood at €170,000 on 1 January 2005, and the net assets of ROSS had a fair value that was the same as their book value. The statement of comprehensive income of ROSS for the year ended 31 December 2005, and the statement of financial position as that date, are shown below:
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Related Book For
International Financial Accounting And Reporting
ISBN: 9780903854726
2nd Edition
Authors: Ciaran Connolly
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