Jocatt - Dec 2010

This topic has 4 replies, 2 voices, and was last updated 8 years ago by MikeLittle.

Viewing 5 posts - 1 through 5 (of 5 total)

Author

Posts
November 25, 2013 at 7:26 pm #147790
atab
- 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
- 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: 26
- Replies: 22604
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
- 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: 26
- Replies: 22604
You’re welcome
Author

Posts

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic.