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.
A 1- year Canadian bond with a face value of 5000 can be purchased at 4800. a) Calculate the nominal interest rate in Canada. b) If the Canadian dollar is expected to depreci
Prepare a properly classified Cash Flow Statement for Sports Enterprises Ltd for the year ended 31st December 2011. Note that the Closing Cash at Bank Balance at 31st December 2011
PROFIT VARIANCES Sales variances are important as they have a direct bearing on profits earned by the organization. thus, they can be used as the basis of determining profit
Profit Analysis and Cost Volume or CVP Analysis CVP Analysis checks the relationship between profit, activity level and the cost. CVP Analysis assists in a broad range of p
Dropping a segment - George's Grill analyzes profitability of three operating units: restaurant, bar, and billiards room. Revenues, variable costs, and attributable fixed costs (wh
Fixed Budgeting The master budget discussed before is a fixed budget. A fixed budget is defined via as: 1. Just one level of activity 2. Not adjusted to re
Reasons for Cost Allocation 1. To provide comparison along with externally provided services: It helps in assessing where to continue the contact or service outsiders. 2.
Early customers at Graffiti Week balk at the price for Moondoggie Reserve. The marketing department at DFW, Jolene, conducts some research that suggests Stanislaus county residents
Dividends ................ Non-operating losses not passed through P and L A/c
Material Usage Variance (MUV): This is the variation between the actual quantity of material consumed and standard quantity which should have been consumed, expressed in terms
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