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Consolidation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Consolidation

  • This topic has 1 reply, 2 voices, and was last updated 8 months ago by P2-D2.
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  • May 18, 2022 at 11:02 pm #656000
    maximus07
    Participant
    • Topics: 407
    • Replies: 398
    • ☆☆☆☆

    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

    May 20, 2022 at 11:23 am #656074
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6443
    • ☆☆☆☆☆

    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

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