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Assignment 3 SunLtdacquiredon1July2011aAA%votinginterest(andsignificantinterest)inSeaLtdfor$BBBcash.TherecordedidentifiablenetassetsandassumedliabilitiesofSeaLtdasatthedateofacquisitionwererepresentedbythefollowingequityitems:   Issuedcapital 1,000,000 Retainedearnings 500,000 Generalreserve 100,000 Totalequity 1,600,000   Duediligenceworkinrelationtotheacquisitionfoundthatthefairvalueoftheidentifiableassetsandliabilit ...

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