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Cosmic, I got my Pup to £600, and I think I removed 9K or 8K from Revenue and Cos, can’t remember
Frank you are totally right, it was such small oversight at my end…. so even though I balanced – I balanced with an error hopefully I won’t forfeit to many marks
Bugger you are totally right, surely that’ll only be 2 marks for getting the Goodwill wrong when everything else balanced?
@Frank I am probably going to kick myself and hopefully the answers someone gives will give me a “Graham you are an idiot moment’, so I worked out my goodwill based on the shares (SC $6000/50P = 12000 shares, 75% 9000 shares X £1.35 then added my contigent consideration [mistake?] deducted my share capital, and my fair value movement my pre aq I worked it out this way I can’t recall the specifics
R/E as per BS it was definately a positive figure, I deducted by PNL which was -£4600 deducted that off my RE @ Y/E to get my opening R/E then said Opening Retain Earnings + (-$4,600/12×6)
Maria – I read Q1 and noted that the directors thought goodwill was going to be regarded as a bargain purchase, but when I calculated goodwill I got a positive result.