Financial Statements CBA

michaelar25

Can anyone help in doin the practise cba for financial statements and im stuck on task 1.5! where do i get the -196 figure on the goodwill working for retained earnings?

Jo Clark

Hello Michael

Do you mean a figure of £1,596 for the goodwill working on Lyd/Wolf Plc?

If so I will reply further.

Best wishes.

JC

Jo Clark

Goodwill
(Sorry this probably won't line up!)

£000
Cost 2,800
FV of Net Assets Aq
Share Capital 2,000
Retained Earnings 280
2,280
Group Share 70% (1,596)
1,204


Feel free to PM if you want to chat this through.

Hope this helps.

JC

SandyHood

70% of 280 is 196

Don't worry about it, you have got it as part of your 1596, it is just another way to find the goodwill.

Jo Clark

Thanks Sandy

Good to know...

JC