Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Illustrations of retained profits brought forward
H Ltd acquired 75% of the ordinary shares of S Ltd since S Ltd was incorporated. The Summarized income statement for the two companies for the year ending 31 December
20X2 is as follows:
H Ltd
S Ltd
£
Sales revenue
75,000.00
38,000.00
Cost of sales
(30,000.00)
(20,000.00)
Gross profit
45,000.00
18,000.00
Operating expenses
(14,000.00)
(8,000.00)
Profit before tax
31,000.00
10,000.00
Taxation
(10,000.00)
(2,000.00)
Profit after tax
21,000.00
8,000.00
Retained profit b/f
87,000.00
17,000.00
Retained profit c/f
108,000.00
25,000.00
Required:
Prepare the consolidated income statement for the year ended 31 December 20X2.
H Ltd. And Its Subsidiary
Consolidated Income Statement for year ended 31/12/2002
£ ‘000’
Revenue(75+38)
113
Cost of sales(30+20)
(50)
63
Operating expenses(14+8)
22
41
Income tax expense(10+2)
(12)
29
Profit attributable to minority interest
(2)
Profit attributable to holding company
27
Retained profits b/f
99.75
126.75
Q. How does FCA diverse from what cities already do? Numerous cities at present employ budget-based, or cash-flow, accounting-they report their present costs and figure their e
Describe the accounting concept of a business combination. Business Combination: According to International Financial Reporting Standard-3 Business Combinations "A busi
is net sales an asset
DUTIES OF TRUSTEES 1) Not to profit from the trust : A trustee may not receive remuneration except: By order of the court, if the trust is very onerous or the services of the
2500 words
Natasha's income is $300 per month. She spends all of it on tickets to concerts and films. A concert ticket costs $15 and a fi lm ticket costs $10. Her marginal rate of substitutio
Q. What is Contractor Ledger? Accounts relating to contractors should be kept as personal accounts in contractor's ledger and a separate folio should be opened in the Contracto
Montana Company signs a five-year capital lease with Elway Company for office equipment. The yearly lease payment is $20,000, and the interest rate is 8%. 1. Compute the cu
Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January. Date Face Amount Term Interest Rate 5. Nov. 15 $54,000 60days 6% 6. Dec. 27 $40,500
DISSOLUTIONS A partnership may be dissolved due to various reasons which include: Poor trading that has led to losses A partner dying or leaving the firm The time
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd