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!
Illustrations of retained profits brought forward
H Ltd acquired 75% of the ordinary shares of S Ltd since S Ltd was incorporated. The Summarized income statement for the two companies for the year ending 31 December
20X2 is as follows:
H Ltd
S Ltd
£
Sales revenue
75,000.00
38,000.00
Cost of sales
(30,000.00)
(20,000.00)
Gross profit
45,000.00
18,000.00
Operating expenses
(14,000.00)
(8,000.00)
Profit before tax
31,000.00
10,000.00
Taxation
(10,000.00)
(2,000.00)
Profit after tax
21,000.00
8,000.00
Retained profit b/f
87,000.00
17,000.00
Retained profit c/f
108,000.00
25,000.00
Required:
Prepare the consolidated income statement for the year ended 31 December 20X2.
H Ltd. And Its Subsidiary
Consolidated Income Statement for year ended 31/12/2002
£ ‘000’
Revenue(75+38)
113
Cost of sales(30+20)
(50)
63
Operating expenses(14+8)
22
41
Income tax expense(10+2)
(12)
29
Profit attributable to minority interest
(2)
Profit attributable to holding company
27
Retained profits b/f
99.75
126.75
Does a state have the authority to require a U.S.-based multinational corporation to compute its state taxable income on a worldwide combined reporting basis? What about a foreign-
Part I: Wal-Mart Stores Inc.'s income statement and balance sheet are attached. Gather relevant information from the financial statements to calculate the financial ratios, and co
Q. What do you mean by Inflation? Predicts of future inflation of sales prices and variable costs should be prepared Therefore that a nominal NPV evaluation is able to be under
1. Prepare three years of monthly cash budgets, yearly income statements, and yearly balance sheets for the jewelry business Daisy & Company. General Information: 1. Th
What is bargain purchase? Financial assets acquired for less than FMV. In a bargain purchase BC, a corporate entity is acquired by another for an amount that is less than the
48 Morgado Inc. has provided the following data to be used in evaluating a proposed investment project: Initial investment $130,000 Annual cash receipts $78,000 Life of th
State the Benefits of accounting information Benefits of accounting information ultimately decline. Cost of providing information, though, will rise with every additional piec
Powers of investment 1. Shares and debentures: A trustee may: Invest in bearer securities if these would otherwise be authorised; Acquiesce in an amalgamation
what is a maximum leverage ratio covenant designed to control
Closing Entries: Expenses Below is a list of accounts with corresponding ending balances. Account: Account Balance a.Insurance Expense: $1,300 b.Cash: 750 c.Accounts Receivable: 4,
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