On 1 July 2019, Diana Ltd acquired 100% of the issued shares of Charles Ltd for $320,000. At the date of acquisition, the shareholders’ equity of Charles Ltd consisted of:
Question: On 1 July 2019, Diana Ltd acquired 100% of the issued shares of Charles Ltd for $320,000. At the date of acquisition, the shareholders’ equity of Charles Ltd consisted of: Share capital $200,000 General reserve $50,000 Retained earnings $30,000 Total $280,000 At 30 June 2023, the accounts of the two companies are presented below. … Read more