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So the mark issue will be used to remove the profit on the unsold stock not so sir.
thanks very much, but all this part I know, i just forgot the SIMPLEST 125 shares for nci only .
Thanks and will be back againif I find a problem.Sorry i did not amend my records. I am studying ACCA my number is 1616999 i can even give you my pass code to check my records. I first wrote F7 in 2014 and scored 43% so i am writing again in June 2016. sorry i did not amend on time. Thanks for help
Yes my interest was to know how to find the 125 share only sir otherwise you have done a good job. How are we getting the 125 shares. Which shares are we multiplying with 25% to get 125 shares
Reprise purchased 75% of $2000,000.00 ten year ago when the balance on it’s retained earning was $1,044,000.
The accounting period is 31st March 20X4 to prepare consolidation .
Note 1- Included in the receivables of Reprise are amounts owed by Encore of $75,000. The current accounts do not at present balance due to a payment for $39,000.00 being in transit at the year end from Encore.
Thanks very just in case you can understand it more here are full notes:
1. $180,000 of the good will should be written off due to impairment losses.
2. Encore shares were at $4.40 just pril to acquisition by Reprise and the price is used to
value non – controlling interest
3. Included in the inventory of Encore are items purchesed from Reprise during the year and the price is $31,,200 Reprise marks up 30% to achieve its selling price