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Jocatt – Dec 2010

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Jocatt – Dec 2010

  • This topic has 4 replies, 2 voices, and was last updated 11 years ago by MikeLittle.
Viewing 5 posts - 1 through 5 (of 5 total)
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  • November 25, 2013 at 7:26 pm #147790
    atab
    Member
    • Topics: 82
    • Replies: 185
    • ☆☆☆

    Hi,

    Q1 December 2010 Jocatt; could you kindly help me with the following please:

    Jocatt purchased a subsidiary Tigret (60%). During the year Tigret made a 1 for 4 rights issue which raised $5m in cash. The NCI portion of this is $2m (5×40%) and ours is $3m (5×60%). Why do we take the NCI portion ($2m) in Jocatt’s cashflow statement under financing activities please? I would think that we would have to take the $3m.

    Thanks!

    November 25, 2013 at 7:48 pm #147796
    atab
    Member
    • Topics: 82
    • Replies: 185
    • ☆☆☆

    Also, why don’t you add back the ‘Gains on property’ of $10.5m in the beginning please?

    Thanks

    November 26, 2013 at 4:11 pm #147935
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    The money raised from “outside” is the cash paid by the nci. Our 3m stays within the group, so moves from the one pocket / purse into another pocket / purse in the same trousers / hand-bag

    The gainS on property – is that not the gain on sale of land (9) and the profit on investment property (1.5)?

    November 28, 2013 at 8:39 am #148196
    atab
    Member
    • Topics: 82
    • Replies: 185
    • ☆☆☆

    Hi,

    Thank you very much I understood! It makes sense now…

    The gains on property was my fault actually I accounted for it twice…once in the beginning when I was adding back the non-cash figures, and once after the investment property working.

    Thanks for your help.

    November 28, 2013 at 4:31 pm #148328
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    You’re welcome

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