Given below are the statements of profit and loss for Parker Chemicals Ltd., Sanoofi Ltd. and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Given below are the statements of profit and loss for Parker Chemicals Ltd., Sanoofi Ltd. and A-Trade Ltd. for the year ended 31 December 20X1 Statements of profit or loss for the year ended December 31" 20X1 Sanoofi Revenues Operating expenses Profit from operations Finance costs Profit before tax Tax Profit for the year Parker Rs. 000 98,020 (77,900) 20,120 (1,600) 18,520 (5,926) 12.594 Rs. 000 39,870 (29,570) 10,300 (800) 9,500 (3.040) 6.460 A-Trade Rs. 000 12,050 (11.030) 1,020 (1.000) 20 (6.5) 13.5 Other information: 0 Parker acquired 75% of Sanoofi 2 years ago Parker acquired 20% of equity shares of A-Trade on 1st August 20X1 for Rs. 2.59m for long-term investment purposes. ● ● ● During the year A-Trade sold goods worth Rs. 1.25m at a margin 20% to Parker, at the year-end Parker still had 50% of these goods as unsold stock. Fair value of investment in A-Trade stood at Rs. 2.79m as on December 31st 20X1. Required: Prepare the consolidated statement of profit and loss and other comprehensive income for the Parker group for the year ended 31st December 20X1. Show all the necessary workings. (10) (Please use a maximum of one single side of an A4 paper to answer this question). Given below are the statements of profit and loss for Parker Chemicals Ltd., Sanoofi Ltd. and A-Trade Ltd. for the year ended 31 December 20X1 Statements of profit or loss for the year ended December 31" 20X1 Sanoofi Revenues Operating expenses Profit from operations Finance costs Profit before tax Tax Profit for the year Parker Rs. 000 98,020 (77,900) 20,120 (1,600) 18,520 (5,926) 12.594 Rs. 000 39,870 (29,570) 10,300 (800) 9,500 (3.040) 6.460 A-Trade Rs. 000 12,050 (11.030) 1,020 (1.000) 20 (6.5) 13.5 Other information: 0 Parker acquired 75% of Sanoofi 2 years ago Parker acquired 20% of equity shares of A-Trade on 1st August 20X1 for Rs. 2.59m for long-term investment purposes. ● ● ● During the year A-Trade sold goods worth Rs. 1.25m at a margin 20% to Parker, at the year-end Parker still had 50% of these goods as unsold stock. Fair value of investment in A-Trade stood at Rs. 2.79m as on December 31st 20X1. Required: Prepare the consolidated statement of profit and loss and other comprehensive income for the Parker group for the year ended 31st December 20X1. Show all the necessary workings. (10) (Please use a maximum of one single side of an A4 paper to answer this question).
Expert Answer:
Answer rating: 100% (QA)
STATEMENT OF PROFIT AND LOSS NAME OF COMAPNYPARKER STATEMENT OF PROFIT AN... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Statements of profit and loss for the year ended 31 march 2015: Byby Cycle RM000 RM000 Revenue 24,200 10,800 Cost of sales -17,800 -6,800 Gross profit 6,400 4,000 Distribution cost -500 -340...
-
Given below are Gomen companys statement of profit and loss for the year ended March 31, 2010, and balance sheet on March 31, 2010, and 2011. You are required to calculate the cash flow statement for...
-
The following are the statements of financial position as at 31 December 2019 Keris RM'000 Tombak RM'000 Meriam RM'000 Ordinary share capital 14400 8000 1280 Retained profit 480 576 400 Profit for...
-
Song Corp's stock price at the end of last year was $26.25 and its earnings per share for the year were $1.30. What was its P/E ratio?
-
A short tube is 6.4 mm in diameter and 15 cm long. Water enters the tube at 1.5 m/s and 38oC, and a constant-heat-flux condition is maintained such that the tube wall temperature remains 28oC above...
-
The Gabriel-malonic ester synthesis uses an aminomalonic ester with the amino group protected as a phthalimide. A variation has the amino group protected as an acetamido group. Propose how you might...
-
Recall that the density of a gamma distribution with shape parameter \(\alpha\) and scale parameter \(\theta\) has a density given by \(\mathrm{f}(y)=\) \(\left[\theta^{\alpha} \Gamma(\alpha)...
-
Yuan Li Ltd. is a retailer that uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there...
-
Three point charges (-4.34C, 6.7C, and 1.25C) are located at the corners of an equilateral triangle. Find the magnitude of the net electric force on the 1.25C charge. Let the length of each side of...
-
Prepare a purchases return (journal) book from the following transactions for April 2017. 2017 April 05 10 17 28 Returned goods to M/s Kartik Traders Goods returned to Sahil Pvt. Ltd. Goods returned...
-
Choose an idea from Socrates, one from Plato, and one from Aristotle with which you tend to agree or disagree. In each case, explain why.
-
Consider the following AVL tree. Draw the tree after inserting the nodes 37 and 55, in that order, and performing any necessary rotations. 10 20 25 40 30 50 35 60 Activa Go to S
-
6) (6 points) Briefly answer the following questions. a. (2 points) What data structure does MongoDB use in place of relational tables? b. (4 points) What are the purposes of a data access object...
-
(6 points) What are the advantages and disadvantages of each of the following database applicati algorithms? Algorithm 1 Start a database transaction Get user choice While (user chooses not to exit)...
-
Let Enc() be an public-key encryption scheme that is additively homo- morphic. (a) Let Zn be the space of messages of Enc(). Let p(x) = po + Px + +psas be a polynomial with coefficients in Zn. For...
-
Who is MOST likely to be held accountable when something goes wrong?
-
What is the role of resource breakdown structures with managing project costs for a HR Manual?
-
The following processes constitute the air-standard Diesel cycle: 12: isentropic compression,23: constant-volume energy addition (T and P increase),34: constant-pressure energy addition (v...
-
If three different orders are selected, find the probability that they are all not accurate. Use the data in the following table, which lists drive-thru order accuracy at popular fast food chains...
-
Example 2 in this section includes the sample space for genders from three births. Identify the sample space for the genders from two births. Example 2 Sample Space: Complete List of Simple Events...
-
Find the indicated z score. The graph depicts the standard normal distribution of bone density scores with mean 0 and standard deviation 1. 0.8907
-
Obtain the time variation of the lift and propulsive force coefficients and their plots for the airfoil given by Example 8.5. Assume that the profile pitches about quarter chord point. Example 8.5...
-
Write down a numerical solution algorithm for the LU decomposition solution of the pseudo penta diagonal matrix equation given by (A11.4). A11.4 || B C 2 A2 B2 C2 922 An-1 Bn-1 Cn-1 -1 An Bn R R Rn-1...
-
Obtain Eq. 8.66 as a relation between the wake vorticity and the reduced circulation. Eq. 8.66 w(x) = k(Q; cosx-22, sin x) cos ks +k(Q; sin x+Q, cos x) sinks, Q = Q, +Q;i
Study smarter with the SolutionInn App