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FAC3704 Assignment 2 semester 2 of 2024

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FAC3704 Assignment 2 semester 2 of 2024

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FAC3704 ASSESSMENT 2 – SEMESTER 2 OF
2024
(a) Calculation of Goodwill / Gain on Bargain Purchase

R
Purchase Consideration 1 750 000
NCI [20% * (620 000 + 783 200 + 18 250) 284 290
Share Capital (620 000)
Retained Earnings [900 000 – (380 000 – 220 000) * 73%] (783 200)
Revaluation [(225 000 – 200 000) * 73%] (18 250)
Goodwill 612 840



(b) Consolidated Statement of Changes in Equity of the Red Ltd Group for the
year ended 30 June 2024

Ordinary Retained Non –
Share Earnings Controlling
Capital Interest
R R R
Balances at beginning of year 1 800 000 2 424 214 326 593
Total Comprehensive Income
Profit for the year 12 889 495 1 456 797
Dividends paid (877 999) (68 955)
Balances at end of year 1 800 000 14 435 710 1 714 435


Retained earnings at beginning of year = 2 255 000 + 169 214
= R2 424 214

NCI at beginning of year = 284 290 + 42 303
= 326 593




ACCADEMIC NEEDS CONTACT /0651609781

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