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    Q-1 Jun-11 SOLUTION

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    Shaheryar Shahid
    The document provides a consolidated statement of financial position for OGL Group as of March 31, 2011 including non-current assets, current assets, equity, non-current liabilities, and current liabilities. It also includes 3 workings providing details on the calculation of goodwill, retained earnings, and non-controlling interest.

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    Q-1 Jun-11 SOLUTION

    Uploaded by

    Shaheryar Shahid
    14 views1 page
    The document provides a consolidated statement of financial position for OGL Group as of March 31, 2011 including non-current assets, current assets, equity, non-current liabilities, and current liabilities. It also includes 3 workings providing details on the calculation of goodwill, retained earnings, and non-controlling interest.

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    The document provides a consolidated statement of financial position for OGL Group as of March 31, 2011 including non-current assets, current assets, equity, non-current liabilities, and current liabilities. It also includes 3 workings providing details on the calculation of goodwill, retained earnings, and non-controlling interest.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    14 views1 page

    Q-1 Jun-11 SOLUTION

    Uploaded by

    Shaheryar Shahid
    The document provides a consolidated statement of financial position for OGL Group as of March 31, 2011 including non-current assets, current assets, equity, non-current liabilities, and current liabilities. It also includes 3 workings providing details on the calculation of goodwill, retained earnings, and non-controlling interest.

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    © All Rights Reserved
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    Solution [Q-1 Jun-11]

    OGL Group
    Consolidated statement of financial position
    as at March 31, 2011
    Rs. million
    Non current assets
    PPE [700 + 200 + 25] 925.00
    Goodwill (W-1) 21.00
    Current assets
    Current assets [350 + 150 - 1.25 - 15] 483.75
    1,429.75
    Equity
    Share capital 300.00
    Retained earnings [W-2] 564.31
    Non-controlling interest [W-3] 78.44
    Non-current liabilities
    Non-current liabilities [150 + 40] 190.00
    Current liabilities
    Current liabilities [182 + 130 - 15] 297.00
    1,429.75
    Workings -
    W-1 Goodwill ----- Rs. million -----
    Consideration transferred 108.00
    Fair value of earlier investment 28.00
    Fair value of NCI 70.00
    Less: net assets at acquisition:
    Share capital 100.00
    RE 60.00
    FV adj. - Land 25.00 (185.00)
    Goodwill at acquisition 21.00

    W-2 Retained earnings OGL RGL


    --------- Rs. million --------
    RE 550.00 80.00
    Less: Pre-acq - (60.00)
    Less: Professional fees for acquisition (4.00) -
    Add: Cummulative fair value gain transferred to RE 3.00
    Add: Profit on earlier investment [28 - 23] 5.00 -
    Less: URP on goods [5 x 25%] - (1.25)
    18.75

    Add: Share in RGL [18.75 x 55%] 10.31


    564.31

    W-3 NCI Rs. million


    Value at acquisition (W-1) 70.00
    RE [18.75 x 45%] 8.44
    78.44

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