Solve the following accounting questions
Solve the following accounting questions.
Question 2 (Marks 20)
Challenge Me Pty Ltd acquired 100 per cent of the issued capital of TakeItEasy Ltd on 30 June 2018 for $900 000, when the statement of financial position of Take It Easy Ltd was as follows:
|statement of financial position TakeitEasy Ltd as at 30 June 2018|
|property, plant and equip||700||share capital||500|
|Accumulated depreciation||-270||Retained Earnings||200|
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