A Ltd acquired a 90% shareholding interest in B Ltd in 20x1. B Ltd acquired a...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A Ltd acquired a 90% shareholding interest in B Ltd in 20x1. B Ltd acquired a 70% shareholding interest in C Ltd in 20x2. For the year ended 31 December 20x8, A Ltd, B Ltd and C Ltd each reported "Profit after tax" of $100,000. The "Profit attributable to non-controlling interest" to be reported in A Ltd's consolidated statement of profit or loss and other comprehensive income for the year ended 31 December 20x8 should be: O $153,000. $90,000. $40,000. None of the listed choices. $47,000. A Ltd acquired a 90% shareholding interest in B Ltd in 20x1. B Ltd acquired a 70% shareholding interest in C Ltd in 20x2. For the year ended 31 December 20x8, A Ltd, B Ltd and C Ltd each reported "Profit after tax" of $100,000. The "Profit attributable to non-controlling interest" to be reported in A Ltd's consolidated statement of profit or loss and other comprehensive income for the year ended 31 December 20x8 should be: O $153,000. $90,000. $40,000. None of the listed choices. $47,000.
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below The consolidated statement of profit or ... View the full answer
Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
Posted Date:
Students also viewed these accounting questions
-
Prepare the journal entries to record the following purchase transactions in Xiaoyan Company's books. Xiaoyan uses a perpetual inventory system. Jan. 2 Xiaoyan purchased $20,000 of merchandise from...
-
Prepare the journal entries to record the following purchase transactions in Jarek Company's books. Jarek uses a perpetual inventory system. Mar. 12 Jarek purchased $25,000 of merchandise from...
-
Prepare the journal entries to record the following purchase transactions in Xtra Inc.'s books. Xtra uses a perpetual inventory system. Jan. 2 Xtra purchased goods for $45,000 from Fundy Corp., terms...
-
The degrees of operating leverage for Delta Corp. and Epsilon Co. are 1.95 and 5.15, respectively. Both have operating incomes of $56,600. Determine their respective contribution margins....
-
The accounting records of Earthtone Ceramics included the following balances at the end of the period: In the past, Earthtones warranty expense has been 8% of sales. During 2012, the business paid...
-
Two of your employees are conducting statistical analysis. Each one is working with a random sample of 30. The first employee took the sample from a population with a symmetric distribution. The...
-
Hi-Cloud, Inc., is a start-up tech company. It is seeking a substantial line of credit from a federally insured commercial bank. Among other questions, the loan application requires disclosure of the...
-
QP Corp. sold 4,000 units of its product at $ 50 per unit in year 2013 and incurred operating expenses of $ 5 per unit in selling the units. It began the year with 700 units in inventory and made...
-
The hybrid state of the Xe and shape of the XeF4 molecule are: 1. (a) sp and tetrahedral 2. (c) sp d and square planar (b) spd and tetrahedral (d) sp d and see saw Which of the following relation is...
-
National Bank operates a network of automated teller machines (ATMs). Cash withdrawals at an ATM aver-age about $ 80. The bank estimates that the fixed cost of filling an ATM with cash is about $ 100...
-
The distribution of a stock dividend ________. a) decreases both assets and liabilities b) decreases assets and increase liabilities c) effects only stockholders equity accounts d) increases both...
-
Practical Application: During recessions Walmarts low prices attract more customers. Explain why this means that Walmart is selling inferior goods.
-
Do you think that sexual harassment in the workplace is overreported or underreported? Justify your answer.
-
An increase in the supply of running shoes will assuming demand is unchangedlead to _________. a) an increase in equilibrium price and an increase in equilibrium quantity b) a decrease in equilibrium...
-
Each of the following provides an example of economies of scale except ____. a) the computer software industry b) the pharmaceutical industry c) Adam Smiths pin factory d) movie and TV production e)...
-
A decrease in demand means that the quantity demanded ________. a) does not fall at any price b) falls only at the equilibrium price c) falls at a few prices d) falls at most prices e) falls at all...
-
2. (10 points) Bill decided that it was time to remodel his home. Among the features that Bill had included in his remodeling plan was the addition of several very large picture windows. Because of...
-
What steps must a business take to implement a program of social responsibility?
-
Carter Company's income statement and cash flow from operating activities (indirect method) are provided as follows ($ thousands): a. For each of the four statements below, determine whether the...
-
On July 1, 2020, Shroff Company leased a warehouse building under a 10-year lease agreement. The lease requires quarterly lease payments of$4,500. The first lease payment is due on September 30,...
-
Following is the current asset section from the Ralph Lauren Corporation balance sheet: The 2018 allowance consists of $202.5 for returns and $19.7 for uncollectible accounts. The amounts tor 2017...
-
Which of the following best describes the underlying rationale for a written investment policy statement (IPS)? A. A written IPS communicates a plan for trying to achieve investment success. B. A...
-
Which of the following is least important as a reason for a written investment policy statement (IPS)? A. The IPS may be required by regulation. B. Having a written IPS is part of best practice for a...
-
A written investment policy statement (IPS) is most likely to succeed if: A. Created by a software program to assure consistent quality. B. It is a collaborative effort of the client and the...
Economics Between Predictive Science And Moral Philosophy 1st Edition - ISBN: 0890969922 - Free Book
Study smarter with the SolutionInn App