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On 1 January 20X3, Claudia Ltd, an Australian company, acquired 80% of the shares of Saskia Ltd, a New Zealand company, for A$2 498 000. At that date the share capital of Saskia was NZ$2 million and the retained earnings were NZ$1 440 000.
All the assets and liabilities of Saskia were recorded at fair value except for land, for which the fair value was NZ$200 000 higher than the carrying amount and equipment, for which the fair value was NZ$80 000 higher than the carrying amount. The undervalued equipment had a further 4-year life. The tax rate in New Zealand is 25%.
Exchange rates are as follows:
-The adjustment to the foreign currency translation reserve on 31 December 20X3 relating to the revaluation of the land if the functional currency of Saskia is New Zealand dollars is:
Rationalizations
The process of justifying behaviors, decisions, or beliefs with logical, plausible reasons, often to align with one’s self-concept or to avoid cognitive dissonance.
Unethical Behavior
Actions that fall outside the accepted moral norms and values of society, often leading to harm or disadvantage to others.
Ethical Problems
Moral dilemmas or situations where choosing between right and wrong is not straightforward, often involving conflicting principles.
Copyright Infringement
The unauthorized use of copyrighted material without permission, violating the rights of the copyright holder.
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