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Hi
I am completely lost on this question and i am tring to wor through it in order as much as possible and i am lost on the following gain on disposal question.
on 31 July, Uzielli sold 140 Million of thir 300 million shares in Oglesby for consideration $300m. Uzellimained significant influence over Oglesby (35% FROM 75%) The fair value of the remaining shareholding at 31 July x8 was $340m. Oglesby profit (and total comprehensive income ) for the year ended 31 October x8 was $20 million and no dividends were paid or declared in the yea. This disposal has not yet been accounted for.
Please can you advise how i would talke this as i am completly confused and starting to freak out!
Thanks
If 300 shares is 75%, then the 140 shares sold must be 35% leaving 30% holding. Is that maybe part of the problem?
Proceeds plus fair value of retained holding less 75% of the fair value of the assets at date of disposal? Also sold the goodwill ( all of it )
Does that help? I hope it does because I don’t have the question available to me 🙁
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Hi Mike,
Iwill have another go. So far its taken me even hours to do this one question and i still have not been able to finish it i have no idea whats wrong with me.
Thanks
So – “hours to complete the question”? Yes, that’s about right! But next time you try it, it will be, maybe, just 1 hour and the time after that will be 45 minutes! It’s called a learning curve! Good luck
@mikelittle said:
If 300 shares is 75%, then the 140 shares sold must be 35% leaving 30% holding. Is that maybe part of the problem?Proceeds plus fair value of retained holding less 75% of the fair value of the assets at date of disposal? Also sold the goodwill ( all of it )
Does that help? I hope it does because I don’t have the question available to me 🙁
Sorry if I’m being daft but would Uzielli not be left with 160/400 = 40% holding in Oglesby?
Yes, of course, 75% – 35% = 40%
Oh dear – it’s an age thing
Thanks for pointing out my error!
This sounds like a post that should have been a personal message – it’s certainly not one for me – I’m not even called Amanda!
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Hi,
please, could anyone has the answer to this question about Uzielli consolidation group?
Thanks
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