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!
Question
The statements of comprehensive income for three entities for the year ended 30 September 2009 are presented below: SOT
PB
UV
$000
Revenue
6,720
6,240
5,280
Cost of sales
(3,600)
(3,360)
(2,880)
Gross profit
3,120
2,880
2,400
Administrative expenses
(760)
(740)
(650)
Distribution costs
(800)
(700)
(550)
Investment income
80
-
Finance costs
(360)
(240)
(216)
Profit before tax
1,280
1,200
984
Income tax expense
(400)
(300)
Profit for the year
880
840
684
Other comprehensive income
Actuarial gains on defined benefit pension plan
110
40
Tax effect of other comprehensive income
(30)
(15)
Other comprehensive income for the year, net of tax
25
Total comprehensive income for the year
960
709
1. On 1 September 2009 PB paid a dividend of $100,000 and SOT has recorded its share in investment income.
2. SOT holds numerous available for sale investments, and accounts for these in accordance with IAS 39 Financial Instruments: recognition and measurement. Gains on succeeding measurement of $46,000 occurred in the year. The financial controller however is unsure how this should be obtainable within the statement of comprehensive income and so has yet to include it.
3. SOT also liable to an available for sale investment during the year to 30 September 2009 for $630,000, when the carrying value of the investment was $580,000. The gain on disposal of $50,000 is included in administrative payment. Formerly recognised gains associated with this investment of $40,000 still remain in other reserves.
Suppose that all income and gains for the three entities accumulate evenly throughout the year.
Ignore any further tax impact of accessible for sale investments.
Round all figures to the nearest $000.
Required:
Create the consolidated statement of comprehensive income for the SOT group for the year ended 30 September 2009.
types
This time of year we all here about football. For me it is the bad news of how poorly the Buffalo Bills are performing. Hopefully your favorite team is doing well. One thing we
Polycorp Limited Steel Division is considering a proposal to purchase a new machine to manufacture a new product for a potential three year contract. The new machine will cost $1
This is the income received but not earned throughout the accounting period. Conversely, this is the income for those services are to be rendered in future. Such income is deducted
Purposes of standard cost accounting connection - suppose you were a management consultant and the client asked you the advantages and disadvantages of using standard costs and cos
Explain and illustrate with your own example the operating cycle of a merchandiser. Explain and illustrate the differences between a multiple-step income statement and a single
Determine why JIT, TQM and AMTs may not always be entirely compatible with the practice of standard costing.
A Market Value Schedule (in one report),for the complex. This schedule should show the market value of the complex at the end of each year of the project. Valuation method and oth
Material Costs - Cost Accumulation However 'Materials' refer to the tangible inputs into the procedure of producing useful output. They might be indirect materials or direct
Advantages and Disadvantages of Group Bonus Plan Benefits associated along with group bonus schemes involve i. It encourages teamwork and cooperation among workers ii.
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