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Hi all,
I’m currently going over this topic in the course notes and re-working all the examples, however I’m now at a road block! The answer to Example 5 on page 61 of the course notes simply does not make sense, the answer on page 167 of the notes shows the Statement of changes in equity with an answer that seems wrong – can someone tell me where/how the figure that is shown under NCI brought forward (14250) came from?? because if you work it out, its actually the parent co’s share and I have absolutely no idea as to why its under the NCI, is this a typo or am I missing something?
Thanks in advance!
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The b/f amount of NCI must not be $14,250. Instead, it should be $37,000 x 25% = $9,250.
Sosologos is WRONG!!! The nci brought forward is correctly shown as 14,250 and is made up of their share of the net assets brought forward. Net assets a year ago comprise share capital of 20,000 plus retained earnings of 37,000.
So, 25% x ( 20,000 + 37,000 ) = 14,250
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Yes, werty is correct. I overlooked the $20,000 share capital!
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