38 Chapter 7 Paper F7 Preparation of the Consolidated Statement of Financial Position September/December 2016 but where the examiner tells us the value of the NCI is based on a full or fair value basis of the market value of the subsidiary information may be given in any one of three ways the exam question could say, for example, either goodwill attributable to the NCI on acquisition was $2,000, or the NCI investment was estimated at $30,000, or the market value of the subsidiary shares immediately before acquisition was $4. Ivona Guido $ $ Investment in Guido 100,000 - Other net assets 60,000 190,000 160,000 190,000 70,000 80,000 $1 Equity shares Retained earnings 90,000 110,000 160,000 190,000
38 Chapter 7 Paper F7 Preparation of the Consolidated Statement of Financial Position September/December 2016 but where the examiner tells us the value of the NCI is based on a full or fair value basis of the market value of the subsidiary information may be given in any one of three ways the exam question could say, for example, either goodwill attributable to the NCI on acquisition was $2,000, or the NCI investment was estimated at $30,000, or the market value of the subsidiary shares immediately before acquisition was $4. Ivona Guido $ $ Investment in Guido 100,000 - Other net assets 60,000 190,000 160,000 190,000 $1 Equity shares 70,000 80,000 Retained earnings 90,000 110,000 160,000 190,000
ACCA_F7_S16_Notes.docx