172 Paper F7 Answers to Examples September/December 2016 answEr ExamplE 3 to Linas Group Consolidated Statement of Financial Position as at 31 December, 2009. $’000 TNCA (400 - 5 + 240) 635 Current assets (440 + 510) 950 1,585 300 $1 Equity shares L Only Retained earnings (W3) 767 NC Interest (W4) 1,355 Current liabilities (200 + 30) 230 1,585 W1 L 60 40% A W2 Goodwill Cost 160,000 Nci investment valuation 158,000 318,000 Net assets @ doa $1 Equity shares 120,000 Retained earnings 275,000 395,000 Goodwill (77,000) Pup calculation Asset cost 200,000 Acc dep 120,000 80,000 Sold for 90,000 Pup of 10,000 Dep for 2009 40,000 45,000 5,000 ... excess dep is W3 Consolidated retained earnings W4 NC Interest (40%) Value @ doa 158,000 Share of S post acq ret’d 40% x 325,000 130,000 288,000
172 Paper F7 Answers to Examples September/December 2016 answEr to ExamplE 3 Linas Group Consolidated Statement of Financial Position as at 31 December, 2009. $’000 TNCA (400 - 5 + 240) 635 Current assets (440 + 510) 950 1,585 $1 Equity shares L Only 300 Retained earnings (W3) 767 NC Interest (W4) 1,355 Current liabilities (200 + 30) 230 1,585 W1 L A 40% W2 Goodwill Cost 160,000 Nci investment valuation 158,000 318,000 Net assets @ doa $1 Equity shares 120,000 Retained earnings 275,000 395,000 Goodwill (77,000) Pup calculation Asset cost 200,000 Acc dep 120,000 80,000 Sold for 90,000 Pup of 10,000 Dep for 2009 40,000 45,000 ... excess dep is 5,000 W3 Consolidated retained earnings W4 NC Interest (40%) Value @ doa 158,000 Share of S post acq ret’d 40% x 325,000 130,000 288,000 60
ACCA_F7_S16_Notes.docx