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dear tutor, kindly assist me to solve these questions CBA acquires 10 million ordinary shares of GHB by issuing seven million ordinary shares, at par
dear tutor, kindly assist me to solve these questions
CBA acquires 10 million ordinary shares of GHB by issuing seven million ordinary shares, at par value RM1 each in CBA, RM1 million 10% loan stock in CBA and paying cash of RM1 million. The market price of CBA's share is RM3 per share. (a) Prepare journal entries in the books of CBA to record the acquisition of the share in GHB. (kindly show the steps) (b) If CBA's share's fair value cannot be obtained, but the fair value of GHB's shares was RM2.20 per share, prepare journal entries in the books of CBA to record the acquisition of the share in GHB. (kindly show the steps)Step by Step Solution
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