Siyathandana Ltd acquired 80% shares in Abalele Ltd on 31 December 2016 at a cost of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Siyathandana Ltd acquired 80% shares in Abalele Ltd on 31 December 2016 at a cost of R1 100 000 when Retained earnings were at 500 000 and general reserves were R350 000. Balance sheets at 31 December 2018 Fixed assets Goodwill on consolidation Investment in Abalele Ltd Current assets Current liabilities Ordinary shares 950 000 Retained profit-(pre-acquisition profit) 53 000 Retained profit-(Year-end 31 December 2017) 184 000 General reserve (Year-end 31 December 2017)- Gross profit Admin expenses Net profit before tax Taxation Net profit after tax 184 000 Transfer to General reserve 52 000 Siyathandana Abalele Ltd Ltd 720 000 510 000 330 000 (300 000) (150 000) 210 000 180 000 (26 000) (64000) 60 000 800 000 460 000 (170 000) 116 000 25 400 Required: Prepare analysis of the subsidiary's equity Profit and loss account for the year ended 31 December 2018 Marks 580 000 26 270 000 (160 000) 600 000 500 000 96 000 250 000 Siyathandana Ltd acquired 80% shares in Abalele Ltd on 31 December 2016 at a cost of R1 100 000 when Retained earnings were at 500 000 and general reserves were R350 000. Balance sheets at 31 December 2018 Fixed assets Goodwill on consolidation Investment in Abalele Ltd Current assets Current liabilities Ordinary shares 950 000 Retained profit-(pre-acquisition profit) 53 000 Retained profit-(Year-end 31 December 2017) 184 000 General reserve (Year-end 31 December 2017)- Gross profit Admin expenses Net profit before tax Taxation Net profit after tax 184 000 Transfer to General reserve 52 000 Siyathandana Abalele Ltd Ltd 720 000 510 000 330 000 (300 000) (150 000) 210 000 180 000 (26 000) (64000) 60 000 800 000 460 000 (170 000) 116 000 25 400 Required: Prepare analysis of the subsidiary's equity Profit and loss account for the year ended 31 December 2018 Marks 580 000 26 270 000 (160 000) 600 000 500 000 96 000 250 000
Expert Answer:
Related Book For
Posted Date:
Students also viewed these finance questions
-
A rental car company has an imbalance of cars at seven of its locations. The following network shows the locations of concern (the nodes) and the cost to move a car between locations. A positive...
-
A rental car company charges $20 for one day, allowing up to 200 miles. For each additional 100 miles, or any fraction thereof, the company charges $18. Sketch a graph of the cost for renting a car...
-
A rental car company offers two options when a car is rented. A renter can choose to pre purchase gas or not and can also choose to rent a GPS device or not. Suppose that the events A = event that...
-
Write a filter KamasutraCipher that takes two strings as command-line argument (the key strings), then reads strings (separated by whitespace) from standard input, substitutes for each letter as...
-
What are career pathing and career self- management?
-
Compare and contrast market-skimming and market-penetration pricing strategies and discuss the conditions under which each is appropriate. For each strategy, give an example of a recently introduced...
-
Explain push-through marketing and pull-through marketing.
-
Record the following transactions in the General Ledger accounts of the General Fund of the Keffer Independent School District. 1. Ordered textbooks with an estimated cost of $80,000. 2. Ordered...
-
TJ runs a side business called TJ's Tikoy Shop that becomes busy every year around the New Year selling tikoy (rice cakes/). To prepare for the rush, he hires extra staff to help fill the order. Each...
-
A firm received an order for 200 electric golf carts. The carts must be ready for delivery by week 8. Based on the following information, finish the questions. Parts List for Electric Golf Cart...
-
A reinforced concrete column 200 mm in diameter is designed to carry an axial compressive load of 320 kN. Determine the required cross-sectional area of the reinforcing steel if the allowable...
-
Discuss the symbolic imagery of mirrors and reflections in literature, particularly in texts by authors like Jorge Luis Borges and Jean-Paul Sartre, and its exploration of themes of identity,...
-
What resistance stories are you familiar with (e.g. Black Lives Matter, etc.)? What role do you believe these stories have in the school curriculum and why?
-
How does the natural imagery of the wilderness in the works of Henry David Thoreau and John Muir reflect their transcendentalist beliefs and environmental advocacy?
-
In terms of accounting, payroll expenses could consist of wages, employer paid group benefits, employer contributions to a registered pension plan, employer portion of EI or CPP.
-
Write name of all the materialistic belongings of all the required fields of mathematics.
-
Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.) P= $49,000, r = A $52,797.50 33%,...
-
What mass of KBr (in grams) should you use to make 350.0 mL of a 1.30 M KBr solution?
-
(a) What is the resistance of an immersion-type heating coil if it is to generate 15 kJ of heat per minute when it is connected to a 120-V source? (b) What would the coils resistance have to be if...
-
In order to observe fine details of small objects in a microscope, should you use blue light or red light?
-
An RLC circuit consists of a resistor, a 1.00-F capacitor, and a 250-mH inductor. If it is driven by an ac voltage source whose frequency is 60 Hz, (a) What is the impedance of an RLC circuit at...
-
What are the resources of the organization? How are these used in management decision making?
-
Define management and indicate what its principal purposes are and why managers are essential to organizations.
-
Through the implementation of efficient and effective management, New Belgium Brewing (NBB) has grown from operating out of the founder's basement to having two state-of-the-art facilities and over...
Study smarter with the SolutionInn App