Nci share of subsidiary 5 34140 512 1423 less 10 fair

NCI share of subsidiary profit
(10% × 14,225 (34,140 × 5/12))
1,423
Less:
10% fair value depreciation
(10% × 625) (63)
10% PURP
(10% × 1,200) (120)
10% Impairment
(10% × 1,000) (100)
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1,140
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(W5) Group retained earnings
$000
100% Packer 158,800
90% Scott post-acquisition
(90% × (12,400 (W2))
11,160
FV Investment gain 2,000
Impairment – group share
(90% × 1,000) (900)
–––––––
171,060
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PAPER F7 : FINANCIAL REPORTING
20 KAPLAN PUBLISHING
ACCA marking scheme
Marks
(a) Consolidated statement of profit or loss
(Each adjustment worth ½ unless stated otherwise)
Revenue (addition, intercompany) 1
Cost of sales (addition, intercompany, FV, PURP) 2
Distribution cost ½
Admin expenses (addition, impairment) 1
Investment income (Parent, FV movement) 1
Finance cost ½
Tax ½
Attributable to P shareholders ½
NCI (share of profit, FV, PURP, impairment) 2
––
9
(b) Consolidated statement of financial position
Goodwill (share ½, loan notes ½, NCI ½, NA @ acqn 1½, impairment ½) 3½
PPE (addition, FV, depn) 1½
Investment 1
Current assets (addition, PURP, intercompany) 1½
Share capital 1
Share premium ½
Retained earnings (P ½, 90% ½, sub’s profit 1, impairment ½, FV gain ½) 3
NCI (acq ½, 10% ½, sub’s profit 1, impairment ½) 2½
Non-current liabilities ½
Current liabilities (addition, intercompany) 1
––
16
––
(c) One mark per sensible point made 5
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Total 30
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