QUESTION $3(11$ marks$)$

Midrand Ltd acquired a $90\%$ interest in Bramely Ltd on $2$ December $20\mathrm{.}21$ for R$2$ million. The

consideration was settled as follows:

Legal and other costs incurred in relation to the acquisition of the shares in relation to Bramely Ltd

amounted to R$126000.$ Costs to issue the shares and the debentures amounted to R$89000$ and R$77$

$500$ respectively.