You are required to complete the following question. A total of 55 marks are allocated to these questions, which will be converted to a final mark out of 10%. All workings, when appropriate, must be shown to substantiate your answers. Question 1 [20 marks] Topic 1: Consolidation: Principles, accounting requirements On 1 July 2017, Panda Ltd acquired all the issued shares of Smarty Ltd. Panda Ltd paid $250,000 more than the equity it acquired in the fair value of Smarty Ltd’s net … View More

| April 14, 2018

You are required to complete the following question. A total of 55 marks are allocated to these questions, which will be converted to a final mark out of 10%. All workings, when appropriate, must be shown to substantiate your answers. Question 1 [20 marks] Topic 1: Consolidation: Principles, accounting requirements On 1 July 2017, Panda Ltd acquired all the issued shares of Smarty Ltd. Panda Ltd paid $250,000 more than the equity it acquired in the fair value of Smarty Ltd’s net … 

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