Pro forma journals - Study guides, Study notes & Summaries

FAC3704 EXAM PREP FOR 2022. Group Financial Reporting. Identifying a Subsidiary- When an entity holds directly or indirectly 51% or more of the voting power of the investee and has control over the investee. 2. Calculating Goodwill and Non Controlling Interest (on both Full Goodwill method amd Partial Goodwill method) 3. Processing transaction of the following periods; General Consolidation Procedures for a Subsidiary 1. For a subsidiary, you consolidate 100% of Assets, Liabilities, Expen...

1. The subsidiary paid or declared no dividends The following represent the abridged financial statements of A Ltd and its subsidiary, B Ltd: A Ltd B Ltd ASSETS Property, plant and equipment 330 000 170 000 Investment in B Ltd – 80 000 shares at fair value 88 000 - (cost price: $88 000) Trade and other receivables 28 000 36 000 Current account with B Ltd 10 000 - 456 000 206 000 EQUITY AND LIABILITIES Share capital – ordinary shares (200 000/100 000 shares) 200 000 100 000 ...