dear tutor, kindly assist me to solve both question by showing step by steps. thank you.advanced financial accounting question CBA acquires 10 million ordinary shares of GHB by issuing seven million ordinaryshares, at par value RM1 each in CBA, RM1 million 10% loan stock in CBA andpaying cash of RM1 million. The market price of CBA's share is RM3 per share.(a) Prepare journal entries in the books of CBA to record the acquisition of theshare in GHB. (kindly show the steps)(b) If CBA's share's fair value cannot be obtained, but the fair value of GHB'sshares was RM2.20 per share, prepare journal entries in the books of CBA torecord the acquisition of the share in GHB. (kindly show the steps)

In the given case, CBA acquires shares of GHB in exchange for shares. At the time of acquisition,…

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Business

Accounting

ar tutor, kindly assist me to solve both question by showing step by steps. thank you. advanced financial acc

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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dear tutor, kindly assist me to solve both question by showing step by steps. thank you.

advanced financial accounting question

CBA acquires 10 million ordinary shares of GHB by issuing seven million ordinary
shares, at par value RM1 each in CBA, RM1 million 10% loan stock in CBA and
paying cash of RM1 million. The market price of CBA's share is RM3 per share.
(a) Prepare journal entries in the books of CBA to record the acquisition of the
share in GHB. (kindly show the steps)
(b) If CBA's share's fair value cannot be obtained, but the fair value of GHB's
shares was RM2.20 per share, prepare journal entries in the books of CBA to
record the acquisition of the share in GHB. (kindly show the steps)

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