[kynhonglongbong]

Pass with 79%

[kynhonglongbong]

The NCI on proportional basis =>
Opening balance of NCI is (3000+1500+20000+6000×7/12) x 0.25 = 7000 ( 7/12 because the date of acquisition is 1/8 and 7 months is gone :D)
Post acquisition profit is (6000×5/12) x 0.25 = 625

😀

[kynhonglongbong]

<cite> @akkianjana said:</cite>
Speaking of answers being posted on the ACCA webpage, when does this normally happen? Is it after the results?

I also have the same question :v

[kynhonglongbong]

<cite> @ratsgnidiug said:</cite>
Does anyone remember the Goodwill at acquision date?
I think it shoud be 3,100
Anyone the same?

GW is 8500, i’m totally sure about this number 😀

Are you vietnamese 😀

[kynhonglongbong]

<cite> @donizback said:</cite>
Are you in Malaysia? If yes then teachers will just say things they assumed. I didn’t like the way they teach our teachers didnt even teach us full syllabus, Malaysian education sucks

No, I’m from Vietnam 😀

[kynhonglongbong]

<cite>@phuongntn89 said:</cite>
When goodwill is negative figure, it should be treated as an item which reduce operating expense.

I remember there is a question on this matter in BPP revision kit.

But in Q1, goodwill is positive, so why you care about this?

My teacher said that if goodwill is negative it will be the other income, because you can buy the subsidiary more cheaper and it will be your income :v

Howerver, in Q1 GW is positive, and we should’n care about this 😀

[kynhonglongbong]

<cite>@danf1981 said:</cite>
Wow well spotted thank you for pointing that out!!!

hehe, you’re welcome 😀

[kynhonglongbong]

<cite>@nauman786ahsan said:</cite>
I FORGOT TO BRING MY ID CARD ALONG WITH ME …WHEN THEY ASK ME I RAN BACK HOME I LOST MY 30 MINUTES COULD NOT EVEN TOUCH QUESTION 5 IT WAS SO EASY FELLING SO BAD NOW

poor u bro 🙁

[kynhonglongbong]

<cite>@danf1981 said:</cite>
The only hard one was adjustment nr 1 for the consignment inventory

DR Revenue 10000
CR NC liabitilies 10000
DR Finance Costs 10% of 10000 = 1000
CR NC Liabilities 1000

Consignment inventory is tricky as I oroginally took it out of inventory but as the inventory stays in the warehouse there is no need

Finance cost just 500 because the company do the contract in the middle of the year not from the beginning, so finance cost just 1/2 and will be 500 😀

[kynhonglongbong]

<cite> @donizback said:</cite>
I don’t get u, there was a loss on pre Acq. Retained earnings and then there was a profit figure for 8000 so 6 months pre makes it 0 lol 😛 what do you think?

hehe, the question say that the Opening balance of RE in strata is (4000) and loss in the year at the acquire date is (2000), so at the date of acquisiton, total in RE is (4000+2000)=(6000), and of course, the profit from date of acquisition to end of the year is 2000 +8000 =10000, it should be share for group and NCI ( and further 500 for decreas in depreciation, 700 for in crease in value of investment in subsidairy) total will be 11200

[kynhonglongbong]

<cite> @batman1993026 said:</cite>
I think the wording of note 1 threw me off and I don’t have a clue why I added the 3000! Still, only 2/3 marks lost on that calculation at max, should get some carry over marks and marks for calculating consideration

hehe, i think you shouldn’t worry about it :D, i will have mark of the correct number, such as 20000 share capital, blah blah
ACCA is very hard and wrong when you did the exam is normal

[kynhonglongbong]

<cite> @batman1993026 said:</cite>
Messed up the G’will calculation by the sounds of what everyone got!

Consideration: 12,000
Loan Notes: 1500
NCI : 6000
_____
19500
Less:
Share Cap (20,000)
Pre Acq ear’ (2000)
FV Adj 3000
_____

G’will 500

Hopefully should receive some marks from that!

FV adj is (3000) not 3000
and Pre acquisition is (4000+2000) = (6000)
total of FV of NA is 11000

[kynhonglongbong]

<cite> @kriselda said:</cite>
cost of investment was 20000×75%x2/5 times the price i remember the total being 12000 plus 20000×75%x2/5x 100/1000 being 600 plus nci being 6000 totalling 18600

hehe, you can read my post 😀

[kynhonglongbong]

<cite> @kriselda said:</cite>
That should be calc 20000x 75% times 2/5×100/1000 = 600

No, 20000×0.75×100/1000 is true because the question say that 100 loan notes for 1000 share ACQUIRED, so no of share acquired is 20000×0.75, all of my friend say that 8500k of GW is true, i have small mistake that cal 20000×100/1000 not 0.75, i forgot it 😀

[kynhonglongbong]

oh, i have calculated wrong the value of loan note, i have cal that 20000×100/1000 not 20000×0.75×100/1000, rediculous mistake, hope that it’s small point 😀

[kynhonglongbong]

<cite> @valiaty said:</cite>
Goodwill (4000) + (2000) but Sub acquired 6 months ago + 2000 = (4000) at aquisition (thats what i did.
the provision for bonus should be presented at Current Liability?

Yeah it will be added in current liab and deduct in Income statement

[kynhonglongbong]

i think that the exam is so surprised, all that i anticipated is not in the exam :)), but i still hope that i can pass 😀

[kynhonglongbong]

<cite> @captmario said:</cite>
My bad i treated the Revaluation of Equity asset into it as Fair value adjustment (700 x 6/12), so my came to 11350, damn

Yeah, like me, i also calculated FV of NA is 11000, so goodwill is 9000

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