PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2017. There

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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 2017 are as follows:

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Prepare a consolidated statement of comprehensive income for the year to 31 December 2017.

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International Financial Reporting A Practical Guide

ISBN: 978-1292200743

6th edition

Authors: Alan Melville

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Question Posted: Feb 17, 2020 11:21 AM

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PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2017. There

Question:

PP Ltd QQ Ltd Sales revenue Cost of sales 345,450 125,700 186,350 71,990 Gross profit Operating expenses 219,750 56,330 114,360 37,800 Profit before tax 163,420 42,000 76,560 15,160 Тахаtion Profit for the year 121,420 61,400

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PP Ltd Consolidated statement of comprehensive income For the year to 31 December 2017 Sa...View the full answer

International Financial Reporting A Practical Guide

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