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Professor, I recently studied Gain on Bargain purchase.
Can you please tell me what is shown on debit side?
Dr XX Cr Other income in Parent’s SOPL
I’d not get too concerned with the journal entries when it comes to consolidation but the debit entries are effectively the entries for the cash received and recording of net assets. There will be other entries to regarding the equity share capital and NCI too, which is where it gets tricky.