Reference no: EM132830761
Question - The following information relates to Dork Ltd and its subsidiary Sark Ltd. for the year ended 31 March 2018.
Dork Ltd. Sark Ltd.
$000 $000
Sales revenue 3,300 1,500
Cost of sales (1,890) (900)
Gross profit 1,410 600
Administrative expenses (315) (450)
Dividend from Sark 72 -
Profit before tax 1167 150
Income tax expense (195) (30)
Profit for the year 972 120
Dividends paid 600 90
Profit retained 372 30
Retained earnings brought forward 1,380 318
Retained earnings carried forward 1,752 348
Additional information:
i. The issued share capital of the group was as follows. Dork Ltd.: 15,000,000 ordinary shares of $1 each. Sark Ltd.: 3,000,000 ordinary shares of $1 each.
ii. Dork Ltd. purchased 80% of the issued share capital of Sark Ltd. in 2010. At that time, the retained earnings of Sark was at $168,000.
Required -
A. Insofar as the information permits, prepare the Dork group consolidated income statement for the year to 31 March 2018, showing profit attributable to both owners of the parent and non-controlling interests.
B. An extract of the Statement of Financial Position showing retained earnings and non-controlling interest. Show all accompanying workings.
|
What is the total cost if buy and should scents make or buy
: Assume that Scents will incur total fixed cost of $150,000 no matter make or buy, what is the total cost if buy? Should Scents make or buy?
|
|
What is meghanns qbi deduction
: In 2020, Meghann Carlson, a single taxpayer, has QBI of $120,800 and modified taxable income of $84,560, What is Meghanns QBI deduction
|
|
Describe why organizations outsource project work
: Discuss the best practices used by firms to outsource project work, and describe why organizations outsource project work.
|
|
Discuss risks and biases for a chosen organization
: Discuss risks and biases for a chosen organization. How can they affect analysis?
|
|
Prepare the dork group consolidated income statement
: Insofar as the information permits, prepare the Dork group consolidated income statement for the year to 31 March 2018
|
|
Describe a relevant policy or practice in your organization
: Describe a relevant policy or practice in your organization that may influence your selected healthcare issue/stressor. Critique the policy for ethical.
|
|
How leaders and managers affect organizational culture
: Explanation of how leaders and managers affect organizational culture. In your explanation, do the following:
|
|
What type of cost are direct materials and direct labor
: What type of cost are direct materials and direct labor? Greenhorn Company makes and sells busts of Paciolo, the famous monk who is credited
|
|
Development and distribution of health services
: United Kingdom analyze its health system in terms of cost, quality, and access to care. Discuss how the country is different from the United States.
|