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That was hard, note nought time.
Q1, took the bargain price off profit and did not put the consideration on the balance sheet in liabilities even though I noted it.. Pup 600 tricky way of putting the question on pup and took of cos and revenue the intercompany sales. I did time apportion months of profit and loss, but I know I made load of mistakes Needed more time to think about it.
Q2, not too bad, insurance I reversed the allocation of the insurance cost posted to the provision and put the 250 to admin costs and left the provision at 400k. Leases was ok worked out current and long term liability
Spent so long on q1 And q2 I only had an hour left for q3/4/5 my writing got messing as I rushed through, q3 was ok, q4 substance over form, sale and repurchase and factoring company, my answer was so messy, not sure I will get any points, q5 did not answer. Overall allot to think about if you 4 hours the paper would have been more achievable, hope it passed.Very hard.. struggled with Q1 more than Q2 which in past exam papers was the other way round
Goodwill retained earning for subsidiary= b/f retained earnings and loss to year end, and loss that was agreed at purchase for pre acq (2000) not sure it was right but I had to carry on with the remaining calculations and B/S so even if I get this bit one by theory is correct. Also run out of time, mainly only answered Q1/2&3 and only a few parts of 4&5. Not looking good!!!