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Dear Tutor,
Please help me understanding where I make mistake.
At this question my answer was: 3,300,000. Why the correct answer is: NIL
In the situation where a 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 o investment was 3m and the post acqn retained earnings of the associate were 1m. there was no impairment on the value of investment.Thank you
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