# Murdoch Group DFS

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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?

• Registered Posts: 85 Regular contributor ⭐
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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,

NBC
• Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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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
• Registered Posts: 585 Epic contributor 🐘
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jewels.p wrote: »
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
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 = 1026
• Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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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 again
• Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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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!