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On the 1 July 2013, two companies ( Stafford Ltd and Tutbury Ltd ) agreed to form an unincorporated joint operation to design specialised tools,

On the 1 July 2013, two companies ( Stafford Ltd and Tutbury Ltd ) agreed to form an unincorporated joint operation to design specialised tools, It was agreed that the relative joining operation interest would be ( Stafford Lid 50% , Tutbury Ltd 50%). The contributions of each company were as follow: Stafford Ltd provided plant with a carrying value of 3,600,000 and fair value of 4,000,000, with an expected life of 10 years. Tutbury Ltd provided cash of 4,000,000. Based on this, Stafford Ltd will recognise: Select one:Based on this, Stafford Ltd will recognise: Select one: O a. gain of 100000 O b. gain of 200000 O c. gain of 150000 O d. gain of 300000

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