Trinity Limited acquired 100% of the share capital of Visa Limited. Visa had issued share...
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Accounting
Trinity Limited acquired 100% of the share capital of Visa Limited. Visa had issued share capital of $200 000. The book values of Visa Limiteds assets were: Plant $200 000 and Buildings $200 000. The fair values of these assets were: Buildings $280 000, and plant $340 000. The tax rate is 30%. The fair value of the identifiable net assets is:
Select one:
$600 000
$354 000
$420 000
$820 000
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