Acca financial Accounting (FA) Study Text ac ca (FA)

What figure should appear in the consolidated statement of financial 

position of Austen and its subsidiary Dickens for group retained 

earnings as at 31 December 20X6? 

$________ 

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PRACTICE QUESTIONS 

496

 

KAPLAN PUBLISHING

 

109  At 1 January 20X5 Purves acquired 80% of the equity share capital of 

Noakes 

for $100,000. At that 

Noakes

 

had equity share capital of 50,000 

$1 shares and other components of equity of $30,000. At 31 December 

20X6 the other components of equity of Purves and 

Noakes

 were as 

follows: 

Purves

     Noakes

 

$

$

Other components of equity 

400,000 

50,000 

At the date of acquisition, the fair value of NCI at acquisition was $75,000.