Melbourne Limited acquired 100% of the share capital of Geelong Limited. Geelong had issued share capital of
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Question:
Melbourne Limited acquired 100% of the share capital of Geelong Limited. Geelong had issued share capital of $100,000 and Retained earnings of $50,000. The book values of Geelong Limited's assets were: buildings $100 000, machinery $120 000. The fair values of these assets were: buildings $180 000, machinery $140 000. The tax rate is 30%. The fair value of the identifiable net assets is:
Select one:
$220 000
$200 000
$270 000
$320 000
Related Book For
International Financial Reporting and Analysis
ISBN: 978-1408075012
5th edition
Authors: David Alexander, Anne Britton, Ann Jorissen
Posted Date: