At 1 July 2021, Amy Ltd purchased all the shares in Pond Ltd by issuing...
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Accounting
At 1 July 2021, Amy Ltd purchased all the shares in Pond Ltd by issuing 100,000 shares. At the date of acquisition the share price of Amy Ltd was $12 per share. The cost of issuing shares amounted to $48,000. In addition Amy Ltd incurred due diligence fees of $15,000. What is the amount of the investment recorded by Amy Ltd?
1) 1,215,000
2) 1,263,000
3) 1,200,000
4) 1,248,000
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