Consolidation Pedantic

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Presentation transcript:

Consolidation Pedantic Statement of Profit or Loss ACCA December 2008

Copy out the question P S Adjustments Consolidated Revenue 85000 21000 CofS (63000) (16000) Distribution (2000) (1000) Admin (6000) (1600) Finance (300) (200) Tax (4700) (700)

Copy out the question P S Adjustments Consolidated PPE 40600 12600 CAs 16000 6600 Equity Shares 10000 4000 RetEarns 35400 6500 10% Loan Notes 3000 CLs 8200 4700

Consolidation Format- Goodwill What did we pay? What did we get? Date 1 April 2008, 6 months Acquired 2400 shares, =60% Issued 1600 Paid 1600 x 6= 9600 Total paid 9600

Consolidation Format- Goodwill Paid $9600 + NCIs $5900 = $15500 Received Shares 4000 Retained earnings, py = 3500 Retained earnings, cy = 1500 Fair value adjustments = 2000 Goodwill = 4500 on acquisition

Net Assets S Acq Reporting Date Post Acq Shares 4000 Ret earn 5000 6500 1500 Plant 2000 Depn (200) Profit (800)

Group Retained Earnings 35400 S 500 x 60% 300 NCI Acq 5900 500x 40% 200

Revenue 85000 21000 (8000) 98000 CofS (63000) (16000) 8000 (800) (200) P S Adjustments Consolidated Revenue 85000 21000 (8000) 98000 CofS (63000) (16000) 8000 (800) (200) (72000) Distribution (2000) (1000) (3000) Admin (6000) (1600) (7600) Finance (300) (200) (500) Tax (4700) (700) (5400)

P S Adjustments Consolidated PPE 40600 12600 2000 (200) 55000 Goodwill 4500 CAs 16000 6600 (800) (600) 200 21400 Equity Shares 10000 4000 (4000)1600 11600 Share Premium 8000 RetEarns 35400 6500 (5000) 36900 NCIs 6100 10% Loan Notes 3000 7000 CLs 8200 4700 (400) 12500