Question: I need the answer as soon as possible Entity P acquired 30% of the equity shares in Entity A during Year 1 at a cost

I need the answer as soon as possible I need the answer as soon as possible Entity P acquired 30%

Entity P acquired 30% of the equity shares in Entity A during Year 1 at a cost of Rs. 147,000 when the fair value of the net assets of Entity A was Rs. 350,000. Entity P is able to exercise significant influence over Entity A. At 31 December Year 5, the net assets of Entity A were Rs. 600,000. In the year to 31 December Year 5, the profits of Entity A after tax were Rs. 80,000. The figures that must be included to account for the associate in the financial statements of Entity P for the year to 31 December

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