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Question 8 On 1 July 2 0 1 4 , P Ltd acquired a 7 0 per cent interest in S Ltd . At that
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On July P Ltd acquired a per cent interest in S Ltd At that date, the equity section of S Ltds statement of financial position revealed the following:
Issued capital $
General reserve $
Retained earnings $
At acquisition date, S Ltd revalued its noncurrent assets to fair value by $ P Ltd determined that it had paid $ for goodwill.
Any NCI is measured at the proportionate share of the fair value of the identifiable net assets of S Ltd
What is the amount of Investment in S Ltd would be processed in the consolidation worksheet for the year ended June
$
$
$
$
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