P Ltd acquired control with the acquisition of an 80% interest in S Ltd for R1 100 000 on I January 2008. On this date the share capital of S Ltd was R200 000 consisting of 200 000 ordinary shares and the retained earnings amounted to R800 000. The fair value of the net assets of S Ltd amounted to R1 000 000 on 1 January 2008 Non- controlling interests

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