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Hello Mike,
when attempting the question mentioned above it has been noted that the working no.4 on calculation of consolidated retained earnings, the fair value adjustment of $400 has been omitted.
Please explain why?
Hi
I don’t possess a P2 BPP revision kit – I’m sorry 🙁
So unfortunately I’m not able to tell you why BPP have apparently omitted to include a fair value adjustment
I could take a couple of guesses but they really are guesses!
1) the fair value relates to an asset of the parent and not to an asset of the subsidiary, or
2) the question tells us that the fair values HAVE been reflected in the subsidiary’s records
Does either of those guesses hit the target?
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