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for grange, grange acquired 100% of sittin and disposed 60%, so it becomes a associate (40%) why would the cost of associate be $13m, i understand that there is no profits due to the end of the year, i just intially thought the profits would be 40% x $1m = 0.4m? or we only use this if the assciate was before 30/11/2009. ?
i am confused of what gains etc goes into the R/E and OCE, i.e, like the change in NCI goes to NCI and OCE, some gains and losses goes to R/E. just confused.
A cut and paste from point iii of the question:-
“The sale proceeds were $23 million and the remaining equity interest was fair valued at $13 million”
And your question was ……?
Does working 3 in the official solution not give you enough about what is accumulated in retained earnings and what has to languish in other components of equity?
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