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Hello Sir, please help to solve the below question…Thanks.
B co acquired 18520000 $1 ordinary shares in M co @ 1st november. B co owns $150000 of M co loan notes. B co paid $34000000 for shares. What is the fair value of consideration and how to treat loan notes in group accounts.
The consideration is what the paid for the shares, which is 3,400,000.
In the consolidated accounts we only show any loan notes owned by outside of the group.
(This is more of an F7 problem and not really for Paper F3)
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