Q: 14
CORRECT TEXT
AB acquired its subsidiary on 1 January 20X7 when the fair value of net assets was the same as book
value with the exception of property, plant and equipment that had a fair value $500,000 higher than
carrying value.
These assets were assessed to have a remaining useful life of 5 years from the date of acquisition.
What is the net consolidation adjustment to the property, plant and equipment balance at 31
December 20X9?
Give your answer to the nearest whole number (in '$000s).
$?
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