Answer to Question #218076 in Other for geoffrey

Question

On 1 January 2020, Yunza Co acquired 75% of Lato Co’s equity shares by means of a share exchange of two shares in Yunza Co for every three Lato Co shares acquired. On that date, further consideration was also issued to the shareholders of Lato Co in the form of a K100 8% loan note for every 100 shares acquired in Lato Co. None of the purchase consideration, nor the outstanding interest on the loan notes at 31 March 2020, has yet been recorded by Yunza Co. At the date of acquisition, the share price of Yunza Co and Lato Co is K3·20 and K1·80 respectively.

Answer 1

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