PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2019. There

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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 2019 are as follows:

Required:
Prepare a consolidated statement of comprehensive income for the year to 31 December 2019.

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International Financial Reporting

ISBN: 9781292293127

7th Edition

Authors: Alan Melville

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Question Posted: Jan 19, 2023 11:56 PM

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PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2019. There

Question:

Sales revenue Cost of sales Gross profit Operating expenses Profit before tax Taxation 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

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Consolidated Statement of Comprehensive Income For the year ended December 31 2019 PP ...View the full answer

International Financial Reporting

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