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Compute the fair value of identifiable net assets acquired

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Question - Ting Limited paid $220 000 for 70% of Ping Limited. At the date of acquisition Ping Limited had share capital of $200 000 and retained earnings of $100 000 and all of Ping Limited's assets and liabilities were recorded at fair value. Compute the fair value of identifiable net assets acquired by Ting Limited?

Reference no: EM133030080

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