Question
Please answer based on IFRS Genco Company purchased Pura Company in 2 stages. In 2017, Genco acquired a 40% common shares of Pura, the carrying
Please answer based on IFRS
Genco Company purchased Pura Company in 2 stages. In 2017, Genco acquired a 40% common shares of Pura, the carrying value of which as of December 31, 2021 was Rp20 million and, at the end of 2021, Genco acquired an additional 50% common shares of Pura for Rp250 million in cash. On that date, the fair value of Genco previously held investment in Pura is determined to be Rp200 million and the fair value of noncontrolling interest is determined to be Rp50 million. The net aggregate value of the identifiable assets and liabilities is determined to be Rp440 million. Prepare the journal entry for Genco with regards to its investment in Pura as of end of 2021.
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