Topic 4: Investment in associates On 1 July 2016, Pandi ni Ltd acquired 2 of these shares gave Pandini Ltd s Amani Ltd consisted of 5% of the shares of Armani Ltd for $400,000. The acquisition ignificant influence over Amani Ltd. At this date, the equity of Share capital General reserve Retained earnings $660000 100000 440 000 At 1 July 2016, all the identifiable assets and liabilities of Amani Ltd were recorded at amounts equal to their fair values except for