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in the situation where the sole investment of a public company is its 30% interest in another company representing a significant influence in that other company, what is the value of “investment in associate” to be shown in the consolidated financial statements? The cost of the investment was $3m and the post-acq retained earningss of the associate were $1m. There was no impairment in the value of the investment.
answer=nil
why is nil instead of 3m+post act *0.3 – impairment = 3.3mil?Oh…so we don’t even have a line saying ‘investment ‘at all in statement of financial position? Ok
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