H plc is a holding company with a 74% interest in its subsidiary S plc. The following is an extract from the Statements of Financial Position of the two companies as at the end of their most recent financial year: H plc S plc £m £m Ordinary shares of £1 20 7 Retained earnings 17 24 H plc acquired its interest in S plc for £57m when S plc's retained earnings were £9m and the fair value of the non-controlling interest in S plc was £4m. Calculate the amount for goodwill that would be reported in H plc's consolidated statement of financial position as at the end of its most recent financial year. Enter your answer as £m correct to 1 decimal place.

H plc is a holding company with a 74% interest in its subsidiary S plc. The following is an extract from the Statements of Financial Position of the two companies as at the end of their most recent financial year: H plc S plc £m £m Ordinary shares of £1 20 7 Retained earnings 17 24 H plc acquired its interest in S plc for £57m when S plc's retained earnings were £9m and the fair value of the non-controlling interest in S plc was £4m. Calculate the amount for goodwill that would be reported in H plc's consolidated statement of financial position as at the end of its most recent financial year. Enter your answer as £m correct to 1 decimal place.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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