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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Consolidation
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
Hi,
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.
Thanks