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.
introduction on proess costing
Questions 8-10 rely on the following data. FrontGrade Systems allocates manufacturing over- head based on machine hours. Each connector should require 11 machine hours. According t
Factory Overhead Budget This budget represents the forecasts of each the production variable and fixed and semi-variable overheads to be incurred throughout the budget period.
Pauline's Pastry Shop decides to remodel its offices this year. As part of the remodeling, Pauline's trades furniture with a cost of $12,000 that had been expensed in the year of p
Determine Inventory Costs Mary Cosmetics sells specialty lipstick for a retail price of $12.25 each. Mary purchases each tube for $5.00 and pays the following additional amounts: $
question and answer: XYZ trading purchased 6,850 killos of material at a total cost of 21,920.00. The material price variance was 1,370.00 favorable. The standard price per killo w
Cost Classification Bases Costs can be classified on either more or one of the given bases as: a) Are the costs dependent on the level of output as like variable or are the
A normal job-order costing system is a system that uses : A. actual costs for direct materials and estimated costs for direct labor and overhead B. estimated costs
Accounting for Job Order Costing - Direct Materials Direct materials (i) Dr Stores ledger control Account Cr Cash Account - for cash purchasers X (ii) D
Manufacturing Concern to Organization There are three manufacturing centres as Making, Packing and Finishing. These are supported through five support departments, namely Mai
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