Reference no: EM132957174
Question - On January 1, 20x1, Rooster Co. acquired 75% interest in Cockerel Co. for 600,000. At this time, Cockerel's net identifiable assets have a carrying amount of 720,000 which approximates fair value. NCI was assigned a fair value of 220,000. During 20x1, Rooster sold goods to Cockerel for 600,000, having bought them for 480,000. A quarter of these goods remain unsold at year-end. Goodwill on acquisition of Cockerel has been tested for impairment and found to be impaired (in total) by 32,000 for the current year. The individual statements of profit or loss and other comprehensive income of the entities for the year ended December 31, 20x1 are shown below:
How much is the consolidated sales?
How much is the consolidated cost of sales?
How much is the consolidated profit?
How much is the consolidated comprehensive income?
How much is the profit attributable to owners of the parent and NCI, respectively?
How much is the comprehensive income attributable to owners of the parent and NCI, respectively?
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How much is the consolidated cost of sales
: On January 1, 20x1, Rooster Co. acquired 75% interest in Cockerel Co. for 600,000. How much is the consolidated cost of sales
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