I wonder how to find the value of AAA below ? I got $135,000 but the solution is 49000. I dont know where it went wrong, here is my working [fair value of plant 135,000-(Cost of plant 85,000- depreciation 85,000)=135,000]. Can you please help? I will surely give you a postive feedback. Thank you!

On 1 July 2014 Chloe Ltd acquired all the shares in Lola Ltd for $503,000. At this date the shareholders'' equity of Lola Ltd consisted of

Share capital $123,000

General reserve $106,000

Retained earnings, 1/7/2014 $152,000

At 1 July 2014, the carrying amounts of all identifiable assets of Lola Ltd were equal to fair value with one exception. An item of Plant has a cost of $86,000 and an accumulated depreciation of $86,000 but a fair value of $135,000. At 1 July 2014 the plant has a useful life of 6 years and is depreciated on the straight line basis. Lola Ltd uses the cost basis to measure Plant.

An impairment loss of $95,000 relating to goodwill arising from the acquisition of Lola Ltd was recognised during the year ended 30 June 2015.

Acquisition analysis:

Purchase Consideration: $ xxx

Less fair value of identifiable net assets:

FVA $ xxx

Share capital $ xxx

General reserve $ xxx

Retained earnings $ xxx ($ xxx)

Goodwill on acquisition $ xxx

The consolidation adjustmentrequired to eliminate the investment asset at 30 June 2021 is as below:

Dr. Share capital $ xxx

Dr. General reserve $ xxx

Dr. Retained earnings $ xxx

Dr. FVA $ xxx

Dr. Goodwill $ xxx

Cr. Investment in Lola Lt $ xxx

The consolidation adjustment required for the group to record the FVA entries for the plant accounts on behalf of Lola Ltd. (subsidiary) at 30 June 2021 are shown as the following:

Dr. Accumulated depreciation $ xxx

Dr. Plant AAA

Cr. FVA $ xxx

Cr. DTL $ xxx