The following are the income statements of three companies P Ltd, S Ltd and A Ltd....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following are the income statements of three companies P Ltd, S Ltd and A Ltd. P Ltd S Ltd A Ltd 1,040,000 390,000 520,000 156,000 520,000 234,000 234,000 104,000 286,000 130,000 Sales revenue Cost of sales Gross profit Expenses Interest receivable 780,000 481,000 299,000 143,000 156,000 39,000 195,000 286,000 26,000 260,000 130,000 117,000 55,900 143,000 74,100 Interest payable Profit before tax income tax expense profit after tax P Ltd owns 80% of the shares in S Ltd and 30% of the shares in A Ltd You are required to prepare the consolidate income statement of P Group 195,000 71,500 123,500 The following are the income statements of three companies P Ltd, S Ltd and A Ltd. P Ltd S Ltd A Ltd 1,040,000 390,000 520,000 156,000 520,000 234,000 234,000 104,000 286,000 130,000 Sales revenue Cost of sales Gross profit Expenses Interest receivable 780,000 481,000 299,000 143,000 156,000 39,000 195,000 286,000 26,000 260,000 130,000 117,000 55,900 143,000 74,100 Interest payable Profit before tax income tax expense profit after tax P Ltd owns 80% of the shares in S Ltd and 30% of the shares in A Ltd You are required to prepare the consolidate income statement of P Group 195,000 71,500 123,500
Expert Answer:
Answer rating: 100% (QA)
Consolidated Income Statement of P Group Sales Revenue ... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Posted Date:
Students also viewed these accounting questions
-
The following are partial income statement account balances taken from the December 31, 2011, year-end trial balance of White and Sons, Inc.: restructuring costs, $300,000; interest revenue, $40,000;...
-
Following are the income statements for Ocoee Oil Company for the year ended December 31, 2011, and the balance sheets at December 31, 2010 and 2011. Requirements 1. Prepare a statement of cash flows...
-
Following are the income statements for Marthas Miscellaneous for 2008 and 2009. Required Complete the comparative income statement by computing dollar change ($ change) and percentage change...
-
a. Firm A has a margin of 14%, sales of $640,000, and ROI of 18%. Calculate the firm's average total assets. b. Firm B has net income of $72,000, asset turnover of 1.40, and average total assets of...
-
1. What exactly were Raich and Monson asking the Supreme Court to find? 2. What was the Supreme Courts decision? Justice Stevens delivered the opinion of the Court. California is one of at least nine...
-
Make abstract class called Animal attributes of size and weight and movement=4.5 method "Move" which has integer parameter numberSeconds and returns double called distance method will multiple...
-
Prove by induction that \[\int_{0}^{T} B_{t}^{k} d B_{t}=\frac{B_{T}^{k+1}}{k+1}-\frac{k}{2} \int_{0}^{T} B_{t}^{k-1} d t\]
-
What happens to overhead rates based on direct labor when automated equipment replaces direct labor?
-
The Art of Brand Positioning in a Global Economy How do demographics and psychographics affect how a brand is positioned and promoted? What challenges and opportunities does the complexity of...
-
Upsidedown Cake Company produces dessert products for sale in grocery stores, but it also has a retail location. At the end of 2018, the company had $349,000 in accounts receivable before netting out...
-
Imagine a scenario where a manager of a Research and Development department reaches out because she is dissatisfied with the level of performance in her group. She is convinced that her employees no...
-
My initial recommendation for this company would've been to use SHOP and find a healthcare plan that fit the employees' needs while also being affordable. Unfortunately, SHOP is not currently...
-
Knowledge Check 01 Select the correct order of the following steps in the decision-making process. 1. Evaluate the costs and benefits of the alternatives 2. Determine the decision alternatives 3....
-
A job cost the customer $ 2 8 , 2 4 4 . 6 6 . If 4 1 % of this job was labor, what was the actual labor cost to the customer?
-
The main types of hotel reservations are called a ) no - show and walk - in . c ) MCO and prepaid. d ) guaranteed and non - guaranteed. b ) voucher and advance deposit
-
Prompt: Keys to Strategic Execution : In the Strategic Management process, Strategic Analysis comes before Strategic Formulation and Strategic Formulation (or design) comes before Strategic...
-
Let X and Y be real-valued random variables with joint density fe-y (1) Check that c=3. f(x, y) = (ii) Compute the marginal densities of X and Y.. (iii) Are X and Y independent? if 0
-
On 1 July 2018, Parent Ltd acquired all the shares of Son Ltd, on a cum-div. basis, for $2,057,000. At this date, the equity of Son Ltd consisted of: $ 1,000,000 Share capital 500 000 shares...
-
Ramshare Company acquired equipment at the beginning of 2011 at a cost of $100,000. The equipment has a five-year life with no expected salvage value and is depreciated on a straight-line basis. At...
-
Mason Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified....
-
Mighty Company purchased a 60 percent interest in Lowly Company on January 1, 2010, for $420,000 in cash. Lowlys book value at that date was reported as $600,000 and the fair value of the...
-
N = 230, n = 15, k = 200 Compute the mean and standard deviation of the hypergeometric random variable X.
-
N = 60, n = 8, k = 25 Compute the mean and standard deviation of the hypergeometric random variable X.
-
One study showed that in a certain year, airline fatalities occur at the rate of 0.011 deaths per 100 million miles. Find the probability that, during the next 100 million miles of flight, there will...
Study smarter with the SolutionInn App