Financial Accounting (Class 1)

PARENT COMPANY CONCEPT
Cost of Investment
Tangible Assets
Stocks
Cash
Trade debtors
Book Value
Fair Value 40% x BV 60% x FV
Total
20,000
10,000
1,000
4,000
28,500
11,500
1,000
4,000
8,000
4,000
400
1,600
17,100
6,900
600
2,400
25,100
10,900
1,000
4,000
35,000
45,000
14,000
27,000
41,000
-25,000
-25,000
-10,000
-15,000
-25,000
10,000
20,000
4,000
12,000
16,000
8,000
2,000
8,000
2,000
10,000
3,200
800
0
4,800
1,200
6,000
8,000
2,000
6,000
10,000
20,000
4,000
12,000
16,000
Goodwill
Total Assets
Long term debt
Net Assets
Share Capital
Retained earning
Unrealised gain to FV
Minority interest
Goodwill:
Cost of investment
FV of net asset
Minority interest:
Share capital @ 40%
Retained earning @ 40%
Minority interest
Elimination of Cost of investment:

Goodwill
Share capital @ 60%
Retained earning @60%
Unrealised gain @ 60%
Cost of investment
15,000
-12,000
3,000
DR.
3,200
800
4,000
CR.
4,000
4,000
Parent
Adjustment
15,000
-15,000
Consolidated
Balance Sheet
0
25,100
10,900
1,000
4,000
3,000
3,000
15,000
-12,000
44,000
-25,000
-12,000
19,000
-8,000
-2,000
-6,000
15,000
4,000
4,000
-12,000
19,000
15,000
15,000

Share capital @ 60%
Cost of investment
DR.
CR.
3,000
4,800
1,200
6,000
15,000
15,000
15,000
ENTITY CONCEPT
Book Value
Fair Value
0% x BV
100% x FV
Total
Parent
Cost of Investment
Tangible Assets
Stocks
Cash
Trade debtors
20,000
10,000
1,000
4,000
28,500
11,500
1,000
4,000
0
0
0
0
28,500
11,500
1,000
4,000
28,500
11,500
1,000
4,000
35,000
45,000
45,000
45,000
-25,000
-25,000
-25,000
-25,000
10,000
20,000
20,000
20,000
15,000
8,000
2,000
8,000
2,000
10,000
8,000
2,000
10,000
8,000
2,000
10,000
15,000
10,000
20,000
20,000
20,000
15,000
DR.
3,000
4,800
1,200
6,000
CR.
15,000
Goodwill
Total Assets
Long term debt
Net Assets
Share Capital
Retained earning
Minority interest

Goodwill @ 60% of 5000
Share capital @ 60%
Cost of investment
15,000
Goodwill:
Cost of investment = 60%
100% = Cost of investment *100/60
(15000*100/60)
less: net assets @ 100% FV
Total goodwill
15,000
15,000
25,000
-20,000
5,000
Adjustment
Consolidated
Balance Sheet
-15,000
5,000
0
28,500
11,500
1,000
4,000
0
5,000
-10,000
50,000
-25,000
-10,000
25,000
-8,000
-2,000
-10,000
15,000
0
0
10,000
10,000
-10,000
25,000
Minority Goodwill:
Minority interest
DR.
CR.
2,000
2,000
2,000
2,000
Minority Interest:
Share capital @ 40%
Minority interest
DR.
CR.
2,000
3,200
800
4,000
10,000
10,000
PORPORTIONAL CONCEPT
Cost of Investment
Tangible Assets
Stocks
Cash
Trade debtors
Book Value
Fair Value
0% x BV 60% x FV
Total
20,000
10,000
1,000
4,000
28,500
11,500
1,000
4,000
17,100
6,900
600
2,400
17,100
6,900
600
2,400
45,000
27,000
27,000
-25,000
-15,000
-15,000
20,000
12,000
12,000
8,000
2,000
10,000
4,800
1,200
6,000
4,800
1,200
6,000
20,000
12,000
12,000
Parent
15,000
Goodwill
Total Assets
Long term debt
-25,000
Net Assets
Share Capital
Retained earning
8,000
2,000
15,000
Minority interest
Goodwill:
Cost of investment
FV of net asset
15,000
-12,000
3,000

Goodwill
Share capital @ 60%
Cost of investment
Consolidated Balance
Sheet
-15,000
0
17,100
6,900
600
2,400
Adjustment
3,000
3,000
-12,000
30,000
-15,000
-12,000
15,000
-4,800
-1,200
-6,000
15,000
-12,000
15,000
mination of Cost of investment:
DR.
CR.
tained earning @60%
3,000
4,800
1,200
realised gain @ 60%
6,000
15,000
15,000
15,000
PARENT COMPANY EXTENSION

CONCEPT
Cost of Investment
Tangible Assets
Stocks
Cash
Trade debtors
Book Value
Fair Value
0% x BV
100% x FV
Total
20,000
10,000
1,000
4,000
28,500
11,500
1,000
4,000
28,500
11,500
1,000
4,000
28,500
11,500
1,000
4,000
35,000
45,000
45,000
45,000
-25,000
-25,000
-25,000
-25,000
10,000
20,000
20,000
20,000
8,000
2,000
8,000
2,000
10,000
8,000
2,000
10,000
8,000
2,000
10,000
10,000
20,000
20,000
20,000
Parent
15,000
Goodwill
Total Assets
Long term debt
Net Assets
Share Capital
Retained earning
15,000
Minority interest
Goodwill:
Cost of investment
FV of net asset @ 60%
Minority Interest:
Share capital @ 40%
Minority interest
Elimination of Cost of investment

Goodwill
Share capital @ 60%
Cost of investment
15,000
-12,000
3,000
DR.
CR.
3,200
800
4,000
8,000
8,000
Adjustment
-15,000
0
28,500
11,500
1,000
4,000
3,000
3,000
-12,000
48,000
-25,000
-12,000
23,000
-8,000
-2,000
-10,000
15,000
0
0
8,000
8,000
n of Cost of investment:
arning @60%
gain @ 60%
Consolidated
Balance Sheet
23,000
DR.
CR.
3,000
4,800
1,200
6,000
15,000
15,000
15,000

Financial Accounting (Class 1)

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Financial Accounting (Class 1)

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PARENT COMPANY CONCEPT

Fair Value 40% x BV 60% x FV

Elimination of Cost of investment:

Elimination of Cost of investment:

Elimination of Cost of investment:

Elimination of Cost of investment:

mination of Cost of investment:

tained earning @60%

realised gain @ 60%

PARENT COMPANY EXTENSION

Elimination of Cost of investment

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