Course Name: Advanced Financial Accounting , no hand writing or pictures , be clear and explain your answers

A. ABC Corporation (parent) acquired 100% of the outstanding common stock of Oraby Inc. (subsidiary ) for SR 3,000,000 cash and 50,000 shares of its own common stock (SR 1 par value), which was trading SR 30 per share in Saudi stock exchange at the acquisition date in January 1,2021 ?(1.0 mark)

Required: Prepare the journal entry to record the acquisition on the books of parent

B.

Q3. ABC Corporation (parent) acquired 100% of the outstanding common stock of Oraby Inc. (subsidiary) and ABC assumed and paid in cash the following direct costs of acquisition: ?(1.0 mark)

Expense name	Amounts in SR
Legal fees	5,000
Accounting fees	10,000
Travel expenses	2,000
Legal fees (stock issue)	15,000
Accounting fees (stock issue)	3,000
SEC filing fees	15,000
Total	50,000

Required: Prepare the journal entry to record the direct costs.