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Help, question 1 (Consolidation/Premier), F7 December, 2010 Exam

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Help, question 1 (Consolidation/Premier), F7 December, 2010 Exam

  • This topic has 5 replies, 4 voices, and was last updated 11 years ago by MikeLittle.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • March 4, 2014 at 12:10 am #161409
    Zia
    Member
    • Topics: 2
    • Replies: 1
    • ☆

    In this question, consideration (among others) for buying subsidiary is paid with a loan note 6% issue. I couldent understand the treatment of deducting this consideration from Available for sale investments in consolidated accounts, Any help regarding what grounds its been deducted from investment?

    March 6, 2014 at 9:43 am #161608
    amy
    Participant
    • Topics: 1
    • Replies: 6
    • ☆

    6% loan notes (5,000,000 shares x 80% x 100/500*)= $ 800,000

    This consideration on acquisition of $800,000 is deducted from Premier’s investments (i.e 1,800,000) because ‘investment in subsidiary’ in the statement of financial position of the parent company is excluded when preparing the consolidated statement of financial position.

    March 11, 2014 at 10:57 pm #162097
    Zia
    Member
    • Topics: 2
    • Replies: 1
    • ☆

    Oh that was simple, Thanks for the answer.

    March 12, 2014 at 9:47 am #162116
    baiju
    Participant
    • Topics: 1
    • Replies: 4
    • ☆

    P acquired shares of S 5000*80/100 =4000, and P investment is 1800, loan note issue 5000*80/500/100 =800, in the COFP deducted 1800-800 =1000, and total investment 4000+1000=5000 shares.

    March 15, 2014 at 2:26 pm #162405
    amy
    Participant
    • Topics: 1
    • Replies: 6
    • ☆

    You are welcome Zia!! 🙂

    April 15, 2014 at 7:29 pm #165380
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23315
    • ☆☆☆☆☆

    Baiju, your post makes no sense!

  • Author
    Posts
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