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Hi,
Can someone please explain how group retained earnings is worked out?
I understand where the first three lines come from:
100% P . 110
Add: 60% x 40 24
Add: 90% x 10 9But the next two lines, I can’t figure out:
Change in ownership . (1)
Change in ownership . 6.4Any help would be appreciated, thanks!
I’m just working on an errata for the workbook.
I think the 1 is correct but the 6.4 should be 7.Relevant journals
Hulme
Dr NCI 14 – this is 10/40×56
Dr RE (Bal) 1
Cr Cash 15
Jones
Dr Cash 35
Cr NCI 28 – this is 20/10 x 14
Cr RE (bal) 7
So the final NCI is 13 plus 1 plus 28 = 42 (not 42.6)Does that make sense?
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