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Thanks @trephena. In terms of company’s selection for topic 8, do courier companies such as DHL or Fedex meet criteria of “Industrial transportation- Delivery services” as stated in Info Pack.
regards@Nicolas, I guess we had to add NCI as well.. Lets wait until six weeks and be optimistic :))
I think I am wrong but I didn’t impair Goodwill as I presumed, on disposal Goodwill is not included at closing value but reviewed annually for impairment. I am not sure if question just mentioned that GW has impaired 50% at date of disposal, if so, Goodwill should have been full 1300?
But we didn’t have to adjust in current year’s COS in P&L, as P&L is for current year whereas overvalued inventory was for prior year, instead, we will reduce opening retained earnings? am I right? For fv movement, yes it was 2000 and I think there was credit of 500 showing, that might have been rent income so I added 2000 + 500 as Investment Income. For SOCIE, I dont remember :)) I did take out dividends from Retained earnigs though, I remember..
Hello all,
To all those who got P&L question, wasn’t inventory adjustment related to prior year and we had to adjust opening retained earnings in SOCIE as we were doing P&L and prior year corrections go through Retained earnings in SOCIE? You guys are making me more worried, I think already screwed myself up in exam :)) My profit was something 10k. For disposal of Spectra (Sub), I got profit of 200.
