Kindly help answer this question and please show all your workings

Part b Takatala Mazoo (Pty) Ltd (Takatala Mazoo) is a private zoo nestled in the heart of Etosha Marico region in Namibia. Takatala Mazoo was incorporated on 1 July 2020 with the main purpose of providing students studying zoology and related courses at a University with experimental learning in exotic animals. The company has an issued share capital of 200 000 ordinary shares. On 1 July 2020 Eagle Ltd and Premier Zoo and Exotic Sanctuary Ltd (PZES) (an unrelated third party) each subscribed for 100 000 ordinary shares in Takatala Mazoo. Eagle Ltd and PZES also entered into a strategic agreement on the same date, which governs the operations of Takatala Mazoo. The main features of the strategic agreement are as follows: Page 14 of 23 Shareholders holding at least 51% of Takatala Mazoos voting rights are required to approve decisions about which exotic animals to purchase and at what prices the sourced animals would be sold by Takatala Mazoo. Voting rights are awarded in proportion to ownership of shares in Takatala Mazoo. Exotic animals sourced by Takatala Mazoo are purchased by Eagle and PZES in a ratio of 50:50. Takatala Mazoo may not sell any of the exotic animals to third parties. Eagle and PZES may sell their share of the exotic animals to international sanctuaries for sales outside Namibia. Exotic animals are priced to ensure that the expenses incurred by Takatala Mazoo are covered. These include all direct costs associated with sourcing exotic animals as well as all administrative expenses of Takatala Mazoo. Required: 2.3 Draft an email to the group financial accountant of Eagle in which you discuss, in accordance with the International financial reporting standards (IFRS), the appropriate classification and measurement of Eagles interest in Takatala Mazoo in Eagles consolidated financial statements for the financial year ended 31 December 2020 (15 MARKS)

QUESTION 3

On 1 January 2019 Pac Ltd obtained a 40% interest in the ordinary shares of Act Ltd for N$1 500 000 in cash. On this date Act Ltds reserves consisted of the following: Ordinary share capital N$800 000 Retained earnings N$300 000 Revaluation reserve N$200 000 The following is an extract from the Trial Balance for 2017 financial year. Retained earnings 01/01/20 N$400 000 Revaluation Surplus 01/01/20 N$250 000 Profit for the year after tax N$200 000 Other Comprehensive income for the year N$60 000 Dividends paid (31/12/20) N$40 000 Pac Ltd made the election to account for investment in subsidiary at cost in accordance with IAS 27 Separate financial statements. Page 15 of 23 NCI interest is measured at the proportionate share of the Net assets of the subsidiary Required: 2.2 Prepare proforma journal entries in the Consolidated Financial Statements of Pac Ltd if Pac Ltd exercise significant influence in Act Ltd. (10 MARKS)