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Ting Limited paid $220 000 for 70% of Ping Limited. At the date of acquisition Ping Limited had share capital of $200 000 and retained
Ting Limited paid $220 000 for 70% of Ping Limited. At the date of acquisition Ping Limited had share capital of $200 000 and retained earnings of $100 000 and all of Ping Limited's assets and liabilities were recorded at fair value. The fair value of identifiable net assets acquired by Ting Limited amounted to:
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Managerial Accounting
Authors: Wendy M. Tietz, Louis Beaubien, Karen W. Braun
3rd Canadian edition
