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2 (10 marks) Rabbit Ltd acquired a 75% controlling interest in Tortoise Ltd on 1 July 2021. Tortoise Ltd acquired a 60% controlling interest in
2 (10 marks) Rabbit Ltd acquired a 75% controlling interest in Tortoise Ltd on 1 July 2021. Tortoise Ltd acquired a 60% controlling interest in Snail Ltd on 1 July 2022. Below is the profit for the year as per the final trial balances of the three entities for the financial year ended 30 June 2023: Rabbit Ltd Tortoise Ltd Snail Ltd Profit for the year R576 000 R452 000 R346 000 Additional information: There was no other comprehensive income in the final trial balances of the three entities. All the entities in the Rabbit Ltd Group have a 30 June financial year-end. The Rabbit Ltd Group elected to measure the non-controlling interest in
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