Peter Ltd owns 80% of Lauren Ltd. For the year ending 30 June 2021. Lauren Ltds operating

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Peter Ltd owns 80% of Lauren Ltd. For the year ending 30 June 2021.

Lauren Ltd’s operating profit after tax is $10 000. This includes unrealised profit on sale of inventory from Lauren Ltd to Peter Ltd of $3 500 before tax. The tax rate is 30%.

What is the NCI share of Lauren Ltd’s profit for the year?

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Accounting Business Reporting For Decision Making

ISBN: 9780730302414

4th Edition

Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver

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Posted Date: Apr 06, 2023 06:07 AM

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Peter Ltd owns 80% of Lauren Ltd. For the year ending 30 June 2021. Lauren Ltds operating

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To calculate the NCI noncontrolling interest share of Lauren Ltds profit we first need to calculate ... View the full answer

Accounting Business Reporting For Decision Making

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