Question
John acquired 85% of the share capital of Maggy on 1 October 2020. The profit for the year ended 31 December 2020 for Maggy was
John acquired 85% of the share capital of Maggy on 1 October 2020. The profit for the year ended 31 December 2020 for Maggy was N$ 36 000. Profits are deemed to accrue evenly over the year. At 31 December 2020 Maggy's statement of financial position showed:
Equity share capital N$ 200 000
Retained Earnings N$ 180 000
What were the net assets of Maggy on acquisition ?
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The Internal Auditors Guide To Risk Assessment
Authors: Rick A. Wright Jr.
2nd Edition
1634540158, 9781634540155
