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Orange acquired a 60% holding in Grapes on 1 January 20X6. At this date Grapes owned a building with a fair value $200,000 in excess
Orange acquired a 60% holding in Grapes on 1 January 20X6. At this date Grapes owned a building with a fair value $200,000 in excess of its carrying amount, and a remaining life of 10 years. All depreciation is charged to operating expenses. Goodwill had been impaired by $55,000 in the year to 31 December 20X6. The balances on operating expenses for the year to 31 December 20X7 are shown below: Orange $600,000 Grapes $350,000 What are consolidated operating expenses for the year to 31 December 20X7? $_____________
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