Dad and Mum Ltd bought 84,000 of the 168,000 issued ordinary 1 shares of Child Ltd for
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Dad and Mum Ltd bought 84,000 of the 168,000 issued ordinary £1 shares of Child Ltd for £280,000 on 31 July 2017. The Child Ltd financial statements are drawn up annually to 31 December. The statement of financial position of Child Ltd on 31 December 2016 showed a balance of retained profits of £56,000. The statement of profit or loss of Child Ltd for the year ending 31 December 2017 showed a profit of £100,800. No other reserves appear in either statement of financial position. Calculate the figure for the goodwill to be shown in the consolidated statement of financial position as at 31 December 2017.
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Related Book For
Frank Woods Business Accounting Volume 2
ISBN: 9781292085050
13th Edition
Authors: Frank Wood, Alan Sangster
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