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CIMA Exam CIMAPRA19-F02-1 Topic 1 Question 97 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam
Question #: 97
Topic #: 1
[All CIMAPRA19-F02-1 Questions]

ABacquired 90% of the equity ofYZon31 December 20X2. On the same date YZ acquired 60% of the equity shares ofVW for $750,000. AB has no other subsidiaries.

The following information regarding YZ and VW was available:

Whatamount will AB include in its consolidated statement of financial position in respect ofnon controlling interestat 31 May 20X6?

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Suggested Answer: D

by Felicitas at Sep 19, 2024, 01:25 AM

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Deja
22 days ago
Looks like someone's been practicing their dad jokes. Keep the puns coming, it'll make this exam a little more bearable!
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Dion
25 days ago
Alright, time to put on my accountant hat and crunch some numbers. This question is like a puzzle, and I'm the master puzzle-solver!
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Ollie
1 days ago
User2: I agree, it seems like the correct amount to include in the consolidated statement.
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Wenona
16 days ago
User1: I think the answer is A) $816,400.
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Sherill
1 months ago
This is a classic case of non-controlling interest calculation. I'm pretty confident that D is the correct answer, but I'll triple-check just to be sure.
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Darci
3 days ago
I agree. Let's make sure we have the right amount for non-controlling interest in AB's consolidated statement.
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Dianne
16 days ago
Yeah, it's just a matter of applying the formula correctly. Let's double-check our calculations.
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Tyisha
23 days ago
I think D is the correct answer too. The calculation seems straightforward.
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Jacinta
1 months ago
Hmm, I'm feeling a bit unsure here. Might need to double-check my workings. Consolidation can be a real brain-teaser sometimes.
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Iluminada
1 months ago
Okay, let's see... A is too high, B is too low, C is too high again, so I'm going with D. Gotta love these tricky consolidation questions!
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Polly
1 months ago
I think D is the correct answer too. These questions always make you double check your calculations.
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Keneth
2 months ago
I'm not sure, but I think the answer might be C) $840,600. Can someone explain the rationale behind the calculation?
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Noelia
2 months ago
I agree with Lai, because non-controlling interest is calculated as 40% of the subsidiary's equity, which is $2,041,000 x 40% = $816,400.
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Lai
2 months ago
I think the answer is A) $816,400.
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