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Group Accounts The Consolidated Statement of Financial Position (2c)
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Hi sir I need help here. There is a part of question from BPP as follows
During the year ended 31 October 20X5 Black (parent) sold goods which originally cost 12million to Bury. Black invoiced Bury at cost plus 40%. Bury still has 30% of these goods in inventory at 31 Oct 20X5.
May I know how to calculate the unrealised profit?
Thanks!
If they originally cost 12M and there are 30% of them still in inventory, then the original cost was 30% of 12M = 4M.
However, Black will have invoiced Bury for these goods at cost + 40% and so Bury will be showing them in inventory and the cost to them. Since Black added 40% to the original cost, then unrealised profit will be 40% x 4M = 1.6M
hi
where does the 2400 come from in question 3? calculation of NCI.
Passed mu F3 paper this morning! Thanks opentutition for youd help
)
@yolkan22, Congratulations
Brilliant Teaching!!
question 1
does anyone know why in calculation of the goodwill we add a fv (10% of 24000) = 2400 if we are calculating a goodwill in an example where P bought S on the date when S started to exist…
Example 7:
If question is silent, i should be using proportional value of NCI percentage multiply total of fair value of Subsidiary Net Assets at date of acquisition. ie
FV of SNA @ DOA
Share capital $20,000
Retained Earnings NIL
Total = $15,000 x 25% = $5,000so, i would get
Cost of investment $15,000
FV of NCI $5,000 (per workings above)
Total$20,000/- am i correct?
Thank you
Sir, How is goodwill zero in the above example 7???
consideration……. 15000
share capital of S …. 20000
less:NCI(25%of 20000).. (5000)
fair value 15000
is the above working right???
@Miss A..,
consideration…. 15000
fair value of NCI@(25%of 20000)…..5000
20000
balance sheet value 20000
so goodwill Zero.
is it right now?
@Miss A.., Yes. Cost 15,000 + ( value of nci at date of acquisition ) 5,000 = 20,000.
fair value of net assets at date of ac
@MikeLittle, Yes. Cost 15,000 + ( value of nci at date of acquisition ) 5,000 = 20,000
Fair value of net assets at date of acquisition is also 20,000.
So, no goodwill
Dear Sir, for the first 6 mins of lecture , we only get to hear Mr.John.We are unable to see what he’s writing as the screen doesn’t show. I have read other comments on this video & came to know that many other viewers are experiencing same problem as me .Please resolve this issue.
@Miss A.., Try closing the window and playing the video again. That worked for me! Hope that helps!
thank you open tuition these lectures were very handy especilly for my revision – i got 58%, i feel relieved, thanks once again
Video comes in after 6 minutes.
Only getting audio
not able to see the notes!! fix asap
only getting audio, not seeing any notes. Please assist.
I can not see notes
i don’t understand where the $5000 for the NCI at fair value comes from? could some1 reply asap…thnxs
@ridwaan19,
Remaining 25% of Share Capital which is belong to NCI.
25% x $20000 = $5000
This is a good, helpful and informative lecture. I really appreciate the efforts put by the lecturer. What I am looking for?
Some solved Exam Problems with explanation. If it is possible?
Any thanks again for providing help in studies.
Thanks for uploading. Its been really helpful to prepare at last minute for my exams.