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What is amount of business combination valuation reserve

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Problem 1: When Jackson Ltd acquired 100% of the share capital of Michael Ltd, the carrying amount of Michael Ltd's machinery was $60 000. The fair value of the Machinery on acquisition date was $100 000. The company tax rate was 30%. What is the amount of the business combination valuation reserve that will be recognised on consolidation?

Reference no: EM132928171

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