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The company tax rate was 30 what is the amount of the

Question - When Wayne Ltd acquired 100% of the share capital of Carol Ltd, the carrying amount of Carol Ltd's machinery was $200 000. The fair value of the machinery on acquisition date was $160 000. The company tax rate was 30%. What is the amount of the business combination valuation reserve that will be recognised on consolidation?

a. $40 000

b. $12 000

c. $28 000

d. $160 000

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Accounting Basics: The company tax rate was 30 what is the amount of the

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