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Hi, how do I work this out On 1 January 20X8, Coconut acquired 80% of the share capital of Rice for 100,000 when Rice had
Hi, how do I work this out
On 1 January 20X8, Coconut acquired 80% of the share capital of Rice for 100,000 when Rice had retained earnings of 30,000. At 31 December 20X9, retained earnings of Coconut were 390,000 and for Rice they were 50,000. NCI is measured using the share of net assets method and goodwill has impaired by 7,280 to date.
What amount should be presented in the consolidated statement of financial position at 31 December 20X9, as the retained earnings of the group?
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