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Financial asset: equity investments (16,000 – (13,500 cash consideration) – 200 loss) 2,300
Sir why the cash consideration of 13500 is reduce from the equity investment?
It shouldn’t have been debited to financial assets;0: equity investments. It should, in fact, have been debited to a Cost of Control account (normally called the Goodwill working in exam answers)
If you look at working iii in the printed solutions, you’ll find the 13,500 there
ok Sir thanks