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Hello,
Could you please help me with understanding the loan notes issue by Premiere as part of consideration transfer?It is stated that the issue of loan notes has already been recorded by Premiere. What were then initial bookings in Premiere’s books, and also, corresponding booking in Sanford’s books? (I can’t see any in the question paper)
Who paid or will pay whom in respect of this transaction?I completely get lost when trying to understand it.
Thanks in advance,
TomaszIn Premier, Dr cost of acquisition Cr loan notes
NO entry in Sanford’s records – it has nothing to do with Sanford. These loan notes were issued to the former shareholders of Sanford
Premier will pay loan interest to these former shareholders who are now the loan note holders
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