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Prepare journal entries in the books of ABC

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Question - ABC acquires 10 million ordinary shares of XYZ by issuing seven million ordinary shares, at par value RM 1 each in ABC, RM 1 million 10% loan stock in ABC and paying cash of RM 1 million. The market price of ABC's share is RM 3 per share. Prepare journal entries in the books of ABC to record the acquisition of the share in XYZ.

Reference no: EM133093142

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