PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2023. There
Question:
PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2023. There are no preference shares. The statements of comprehensive income of the two companies for the year to 31 December 2023 are as follows:
Required:Prepare a consolidated statement of comprehensive income for the year to 31 December 2023.
Transcribed Image Text:
Sales revenue Cost of sales Gross profit Operating expenses Profit before tax Taxation expense Profit for the year PP Ltd £ 345,450 125,700 219,750 56,330 163,420 32,000 131,420 QQ Ltd £ 186,350 71,990 114,360 37,800 76,560 14,660 61.900
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (3 reviews)
Sales revenue 345450 186350 Cost of sales 125700 71990 Gross p...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
International Financial Reporting a practical guide
ISBN: 9781292439426
8th Edition
Authors: Alan Melville
Question Posted:
Students also viewed these Business questions
-
PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2019. There are no preference shares. The statements of comprehensive income of the two companies for the year to 31 December...
-
PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2017. There are no preference shares. The statements of comprehensive income of the two companies for the year to 31 December...
-
Question 1 This question has two parts, (A) and (B). Answer both parts. 100% Liverpool plc is a company that manufactures a number of different types of electrical goods and has a year end of 31...
-
Exam scores of 40 students in a statistics class are shown. (a) Estimate the mean and standard deviation from the sample. (b) Assuming that the data are from a normal distribution, de ne bins by...
-
Prepare a statement of cash flows for the internal service fund of the city of Boni ville from the following information: Cash on hand at the beginning of the year .. . . . . .. . . . . . $ 122...
-
A pool is to be filled with 60 m 3 water from a garden hose of 2.5 cm diameter flowing water at 2 m/s. Find the mass flowrate of water and the time it takes to fill the pool.
-
Wave Electronics Company manufactures two models of clock radios, R4 and R8 Based on the following production and sales data for September 2003, prepare (a) a sales budget and (b) a production...
-
1. Explain the trade-off between responsiveness and stability in a forecasting system that uses time-series data. 2. Who needs to be involved in preparing forecasts? 3. How has technology had an...
-
Burlington Internet Services is an Internet service provider for commercial and residential customers. The company provided the following data for its two types of customers for the month of...
-
Please look at the following graph and answer questions. If a node has more than one neighbor, visit the neighbors in alphabetical order. For example, when you iterate over the neighbors {A, F, D, Z}...
-
On 1 January 2022, C Ltd lent 200,000 to D Ltd at an annual interest rate of 8%. No interest was paid until 31 December 2023, when the loan was repaid in full together with two years' interest (which...
-
FF Ltd acquired 80% of the ordinary share capital of GG Ltd on 1 April 2020. On that date, the retained earnings of GG Ltd were 18,260. There are no preference shares. The statements of comprehensive...
-
In what ways was the board of directors responsible for corporate governance failures?
-
(a) Construct an NFA (without & transitions) that accepts the same language as P either in graphical or in tabular form. (b) Compute an equivalent DFA X to the ENFA P using your result in (a).
-
Suppose that the poor households of city Spillover are enrolled in a voucher program. You are a middle-income renter in the city. a. You will be [helped, harmed] by the voucher program because... b....
-
Assume the price of the product sold is $1.32. How much capital should this business rent if the rental rate is $60.72? Labor (L) Capital (K) TP MP VMP MP VMP 0 1 0 ? ? ? ? 1 2 5 ? ? ? ? 4 3 38 ? ? ?...
-
In what ways can leaders actively shape and maintain a positive organizational culture amidst periods of change or crisis?
-
1. Why inclusivity and diversity important in workplace? 2.Stakeholder relationships and organization.- What is it and How it affects business? 3.Strategic Management - Definition , Procedure and...
-
Educators are constantly evaluating the efficacy of public schools in the education and training of American students. One quantitative assessment of change over time is the difference in scores on...
-
The column shown in the figure is fixed at the base and free at the upper end. A compressive load P acts at the top of the column with an eccentricity e from the axis of the column. Beginning with...
-
H Ltd began trading on 1 January 2014, preparing financial statements to 31 December each year. During 2017, the company decided to change its accounting policy with regard to one of its operating...
-
Whilst preparing its financial statements for the year to 30 June 2018, a company discovers that (owing to an accounting error) the sales figure for the year to 30 June 2017 had been understated by...
-
Determine the recoverable amount of each of the following four assets and state the amount of any impairment loss which should be recognised in each case: Carrying amount Fair value less Value in use...
-
D Question 45 1 pts An action on the part of a firm that increases the level of expected cash flows without a corresponding increase in risk should reduce share value; an action that reduces the...
-
A five-year project has an initial fixed asset investment of $300,000, an initial NWC investment of $28,000, and an annual OCF of -$27,000. The fixed asset is fully depreciated over the life of the...
-
3. You are looking at two assets, A and B. They are perfectly negatively correlated. Following are their means and standard deviations: Asset A B Expected Return 10 Standard Deviation 8 16 11 You...
Study smarter with the SolutionInn App