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This actually came from a paper i sat yesterday. I was due to be allocated extra time which had been agreed ahead of time due to ADHD and had allocated time to include an extra thirty mins with a ten min break on the hour. The time was not allocated to my exam so they have said I will have to resit the exam free of charge i got 44% with 15/20 questions still to be answered. You can imagine my frustration. At least now if this style of question comes up again I will be prepared.
I am giving the exam question from memory (so it might not be perfect) but i am 90% sure there was no mention of overall shares of S it really threw me as I was so used to following your very well laid out proforma of what will appear on each consolidated statement and the workings for SOFP – goodwill, Retained earnings, Non controlling interest and PURP SOPL – Adjustment for, PURP ect. I could only see the non-controlling interest amount.
It was the first time i had seen a question laid out as such. I have the Kaplan Kit and haven’t come across anything like that before. If you know of a question within Kaplan i would be very much appreciate if you could give me a page number to work through so I won’t be so perplexed when I sit it again. I mean I gave it a good go and sure i got some of it correct but I would like to get it all right. The consolidated long questions are a great way to increase your marks!
Kind regards,
Ciara Smyth
Thank you so much for the above Mr. Moffat.
They did not give a % of the non-controlling and said that it was 180,000. So do you use get a percentage from the overall cost? by saying 180,000/Share market vale + cash purchase? The question just gave the date of acquisition.
I think i got confused as i have never seen Retained as an opening closing balance.
Again thanks so much
Ciara