The following information is related to P Ltd and its subsidiary for the year ended 30th...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following information is related to P Ltd and its subsidiary for the year ended 30th September, 2008 Amounts in '000' Sales revenue Cost of sales Gross profit Expenses Dividends from S Ltd Profit before tax income tax expense profit after tax Dividends paid Retained profit Retained profit brought fwd Retained profit carried fwd P Ltd 1,540,000 882,000 658,000 147,000 33,600 544,600 91,000 453,600 280,000 173,600 644,000 817,600 S Ltd 700,000 420,000 280,000 210,000 70,000 14,000 56,000 42,000 14,000 148,400 162,400 You are further given the following information a) The issued share capital of P Ltd comprised of 5,000,000 ordinary shares @ Shs 1,400 whereas that of S Ltd comprised of 1,000,000 ordinary shares @ Shs 1,400 b) PLtd acquired 80% of the issued share capital of S Ltd in 2004 when the retained profit in S Ltd was Shs 78,400,000 You are required to prepare the P Ltd group consolidated income statement for the year ended 30th September, 2008 and show extract of statement of changes in equity The following information is related to P Ltd and its subsidiary for the year ended 30th September, 2008 Amounts in '000' Sales revenue Cost of sales Gross profit Expenses Dividends from S Ltd Profit before tax income tax expense profit after tax Dividends paid Retained profit Retained profit brought fwd Retained profit carried fwd P Ltd 1,540,000 882,000 658,000 147,000 33,600 544,600 91,000 453,600 280,000 173,600 644,000 817,600 S Ltd 700,000 420,000 280,000 210,000 70,000 14,000 56,000 42,000 14,000 148,400 162,400 You are further given the following information a) The issued share capital of P Ltd comprised of 5,000,000 ordinary shares @ Shs 1,400 whereas that of S Ltd comprised of 1,000,000 ordinary shares @ Shs 1,400 b) PLtd acquired 80% of the issued share capital of S Ltd in 2004 when the retained profit in S Ltd was Shs 78,400,000 You are required to prepare the P Ltd group consolidated income statement for the year ended 30th September, 2008 and show extract of statement of changes in equity
Expert Answer:
Answer rating: 100% (QA)
A CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 30TH SEPTEMBER 2008 Sales ... View the full answer
Posted Date:
Students also viewed these accounting questions
-
John and Carole file a joint return and have three children: Jack, age 23; David, age 20; and Kristen, age 15. All three children live at home the entire year. Below is information about each of the...
-
A building standing in the books at Rs. 40, 000 was sold for Rs. 52, 000. The profit on sale of building was transferred to profit & loss account thus increasing the net profit to Rs. 1, 80, 000....
-
The Walt Disney Company had the following assets and liabilities (in millions) as of September 29, 2007. Assets $60,928 Liabilities 30,175 a. Determine the stockholders equity of Walt Disney as of...
-
A car has a sticker price of $69,000. The car has a 100 hp engine and can accelerate from 0 to 60 mph in 15.8 seconds. The lease rate is 4.6%. The term of the lease is three years. The buyout is...
-
Why are the six steps in the ethical decision making process presented in this chapter? What is the practical value of this model to the processing of decision in a small business?
-
In an effort to stop the migration of many of the automobile manufacturing facilities from the Detroit area, Detroits city council is considering passing a statute that would give investment tax...
-
What is the starting point for calculating the cash flow from operating activities?
-
Central States Electric Company estimates its demand trend line (in millions of kilowatt hours) to be: D = 77 + 0.43Q Where Q refers to the sequential quarter number arid Q = 1 for winter 1986. In...
-
What is the color that represents the product groups within the graphic?
-
A venturi meter similar to the one in Fig. 15.2 is attached to a 4-in Schedule 40 steel pipe and has a throat diameter of 1.50 in. Determine the pressure difference across the meter that would be...
-
Perform Prim's MCST Algorithm on the following graph. Assume that the start/source vertex is vertex s. Indicate the order that vertices are added to the MCST and show the actual MCST edges. a S 40 5...
-
Describe how empowerment, work groups, and multifunctional teams would or would not affect the five types of problems.
-
Describe a dual relationship within ABA. Does this relationship pose an ethical dilemma? Is it unavoidable? How would you navigate this relationship? Apply Brodhead et al's decision-making model to...
-
In IT strategic Management Briefly describe how customers and staff members influence strategy How does strategic management assist an organization in marketing a product?
-
On problems 1-2, determine whether or not the conditions of Rolle's Theorem are met. If the conditions are met, find the value of c that the theorem guarantees. 1. f(x)=x-11x+30 [5,6] 2....
-
Describe how each Website element will be used to create a customer experience - context, content, community, customization, communication, connection, and commerce. (this is for a local coffee shop)?
-
a. Plot data points of the SWT parameter, max a, versus N on log-log coordinates. Also plot the curve expected from the constants in Table 15.1, and comment on the success of the SWT parameter for...
-
Using thermodynamic data from Appendix 4, calculate G at 258C for the process: 2SO 2 (g) + O 2 (g) 88n 2SO 3 (g) where all gases are at 1.00 atm pressure. Also calculate DG8 at 258C for this same...
-
The following balance sheet and income statement data were taken from the financial records of The Dana Point Company: \ Required Prepare percentage change and common-sized balance sheets and income...
-
The following balance sheet and income statement data were taken from the financial records of The Dana Point Company: Required 1. Calculate the following ratios for The Dana Point Company for 2015...
-
The Artic Company's income statement and comparative balance sheets at December 31 of 2019 and 2018 are shown below: Cash dividends of \(\$ 40,000\) were declared and paid during 2019. Plant assets...
Study smarter with the SolutionInn App