Consolidated financial statements 典型习题——Q3和4 答案

Advanced Financial Accounting

Solutions to extra practice intercompany/intergroup questions

Question 3

Non-current assets land 350,000

Non-current assets

38,000 10+50-26+4 plant+machinery

Goodwill 12,000

Inventories 29,800

Trade receivables 45,000

Cash 22,000

Total assets 496,800

. Share capital 200,000

P+L reserves 181,040

NCI 38,760

Trade payables 56,000

Dividend payable 21,000

Capital, reserves and liabilities 496,800

Workings

Non-current assets

Profit on sale = proceeds – net book value = 30,000 – 4,000 = 26,000

Depreciation before transfer = 20% * 10,000 = 2,000

Depreciation after transfer = 20% * 30,000 = 6,000

Depreciation adjustment = 4,000

Goodwill on ordinary shares = 100,000 – 80% * 110,000 = 12,000

Reserves table

h S

P+L 140,000 130,000

Purp (200)

Profit on nca sale (26,000)

Depreciation adjustment 4,000

Revised P+L 114,000 133,800

Share cap 200,000 50,000

Revaln 10,000

Revised capital and reserves 314,000 193,800

Acquisition P+L reserve. Share capital + reserves = ￡100,000 = share capital + P+L reserve. Share capital = 50,000. Therefore P+L reserve = ￡50,000

P+L res = 114,000 + 80% *(133,800-50,000) = 181,040

Question 4

Non current assets 550,000

Goodwill 88,900

Inventories 68,000

Trade receivables 195,000

Cash 115,000

Total assets 1,016,900

Ordinary share capital 200,000

Pref share capital 50,000

P+L reserves 115,500

NCI 70,650

Bonds 60,000

Trade payables 500,000

Dividends payable 20,750

Capital, reserves and liabilities 1,016,900

Workings

P+L res at acqn total capital and reserves = 160,000 (does not include revaln reserve) = ord share capital + pref share capital + P+L res at acqn

Ordinary share cap = 50,000

Pref share cap = 30,000

P+L must be bal fig i.e. 160,000 -50,000 - 30,000 = 80,000

Goodwill on ordinary shares = 200,000 – 70% * ( 150,000) = 95,000

Method 1 for acquisition reserves for goodwill

Need ordinary share capital + reserves since we are calculating goodwill on ordinary shares

For goodwill need to include revaln reserve

i.e ord share cap + revaln res + P+L res = 50,000+20,000+80,000 = 150,000 method 2 for acquisition reserves for goodwill

can also calculate using reserves – total share capital + reserves = ￡160,000

this includes ord share cap + pref share cap + p+l res but not revaln res

therefore we need to add revaln res and deduct pref capital from total

i.e. 160,000 +20,000 -30,000 = ￡150,000

Goodwill on pref shares = 35,000 - 60% * 30,000 = 17,000 Goodwill on bonds = 20,000 - 20% *25,000 = 15,000

Goodwill before amortisation = 95,000+17,000+15,000 = 127,000 amortisation = 3* 127,000/10 = 38,100

Goodwill = 127,000 – 38,100 = 88,900