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Hi Mike
For pass paper 12/2011 Traveler
for the share acqn profits I got $935-1089= $154m (Data) For Captive $626-$526= $100. Which is different from the Bpp book and Kaplan book. Does this mean my retained earnings and COE will be wrong?
As in the solutions for Retained earnings they have used (Data 143*0.6= 85.8 and captive 0.8* 79) whereas mines would be 154*0.6=92.4.
However my COE + RE still arrives at the same figure in the textbook but the splits of my workings COE and RE are wrong. does this matter in the exam?
is the ceiling asset the balance c/forward?
“For the share acqn profits I got $935-1089= $154m (Data)” is your question.
The following is cut and paste from the bottom of page 9 in the examiner’s answer:-
“The net assets of Data have increased from $935 to $1,089 million $(1,079 + fair value adjustment 10), i.e. $154 million.
The NCI proportion is 40% of $154 million, i.e. $61·6 million.”It seems that the examiner agrees with your figure for Data and that difference COULD work through to explaining why your Retained Earnings amount is different when compared with the two publishers’ answers. Can I ask you to work through to determeine if that in fact is the cause of the difference?
“is the ceiling asset the balance c/forward?” That’s what it says in the Statement of Financial Position!
OK?
for retained earnings my figure arrived to $996.8
per question traveller grp- 1066
impairment of loan (7.9)
considersation (56)
defined benefit charge (55)
impairment loss of pension plan (19)
depreciation on factory (2.7)
data share acqn profit (0.6*154) 92.4
Captive (0.8*100) 80
Impairment losses (50+61) (101)
=$996.8For COE
per question 60
loss on remeasurement (25)
Adjustment of equity 8.3
=$43.3
int is bpp book they have took the acqn profits is 442-299= 143*0.60= 85.8 and captive 169-90- 79*0.8= 63.2 in retained earnings,in the bpp book- COE- data 37-26= 11*0.6= 6.6, captive 45-24=b 21*0.8=16.8.
the share acqn profits has broken it down to RE and COE.
Thats the difference.
Thanks for the explanation. I assume that, now you have found the difference / explanation for the difference, there is nothing more that you wish me to do.
If my assumption is incorrect, then post again. Otherwise, I shall take your silence as indicative of your contentment
What – for your post? No, there is no way I could levy and then collect a penalty.
For your treatment of the Traveller problem, if you do it’s not likely to be a pass/fail matter. Clearly you have a good grasp of what’s happening in a change in group composition situation
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