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Prepare the consolidated statement of comprehensive income

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Reference no: EM132974338

Question - Tie Ltd acquired a 40% interest in Lie Ltd on 1 January 2016 for R30 retained income amounted to R20 000 with no general reserve. The taxation rate for the year amounted to 50%. Pie Ltd acquired a 60% interest in Tie Ltd on the date of incorporation of Tie Ltd. Tie Ltd was incorporated on 1 August 2015 f1 financial operations.

Required - Prepare the consolidated statement of comprehensive income and the statement of financial position of Pie Ltd and its subsidiary for the year ended 30 June 2021. The group accounts for its investments in its associate on the equity method.

Reference no: EM132974338

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