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If a parent company loans an amount to a subsidiary and sub using that loan to build an office building then 2 year later the sub wants to sell the building to the parent and the loan owing will be written off by parent Co. How should this transactions be accounted for in the sub company books how should the building and the loan be disclosed and accounted for
Hi,
This isn’t a question that is related to the FR exam and hence I cannot answer it, sorry.
Thanks
