Murdoch Group DFS
jewels.p
Registered Posts: 1,774 Beyond epic contributor 🧙♂️
Has anyone attempted this paper in the Osbourne Book?
I am trying to calculate the Goodwill on Consolidation in Task 1.1 and get it to be £616,000 but am thinking this is incorrect as Goodwill is usually a rounded amount isnt it?
I am trying to calculate the Goodwill on Consolidation in Task 1.1 and get it to be £616,000 but am thinking this is incorrect as Goodwill is usually a rounded amount isnt it?
0
Comments
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Hi Jewels,
Can't answer your query but I can say that some of the BPP questions have had goodwill that isn't exactly '000 so to me there is every chance that it could be £616,000!
DFS in general had a great weekend just going through everything and it seems to have all come together which is good although worried now it will all empty my head before June!!!
Regards,
NBC0 -
Hi NBC,
I was studying PTC last week and am only today back on DFS. Nightmare already. Just started to attempt a Practice Exam and am already stuck on the first Task. The figure I gave of £616,000 is defo wrong as I have now just realised that I used the wrong cost figure (great start). I am now getting the Goodwill to be £3,390,000 which is probably still wrong! Aaaaaaaagh0 -
Hi NBC,
I was studying PTC last week and am only today back on DFS. Nightmare already. Just started to attempt a Practice Exam and am already stuck on the first Task. The figure I gave of £616,000 is defo wrong as I have now just realised that I used the wrong cost figure (great start). I am now getting the Goodwill to be £3,390,000 which is probably still wrong! Aaaaaaaagh
Workings
work out the value of Lively Ltd at the date of acquisation
Share Capital...........2000
Share Premium........1000
Reatined P&L...........4480
Revaluation.............3000
Valuation @ A.Date 10480
Acquired % of S x 75% (1500/2000 x100) workou on number of shares acquired
Value of s acquired = 7860
Condideration paid = 9000
therefore goodwill = 1140
impairment @10% = 114
Goodwill at 31/3/04 = 10260 -
Thanks SDV. Just realised what I did wrong when I recalculated I never included the £3,000,000 Revaluation (I included it the first time so that was just carelessness)
Thanks again0 -
Just to let you know I got my SOFP to balance after three hours! At this rate I will get one question done in the Exam!0
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