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Consider that Conol Ltd acquired 60% interest in Grams Ltd on 1 April 2023....
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Consider that Conol Ltd acquired 60% interest in Grams Ltd on 1 April 2023. Conol Ltd reflected profit for the year of R120 000 plus retained earnings of R115 000 at beginning for the year ending 31 March 2024. Grams Ltd ‘s retained earnings amounted to R90 000 at acquisition date. The profit for year of Grams Ltd amounts to R75 000 for 2024.
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