Advanced Accounting
14th Edition
ISBN: 9781260247824
Author: Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik
Publisher: RENT MCG
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Question
Chapter 2, Problem 21P
To determine
Introduction: Consolidated financial statements are the single set of statements that combines two or more companies to create a single economic entity. A consolidated
The total
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Students have asked these similar questions
1.
Given below are the consolidated statements of financial position and the
consolidated statement of comprehensive income for Pelangi Berhad and its
subsidiary Mentari Berhad:
Consolidated Statement of Financial Position
as at 31 December
2020
2019
RM'000
RM'000
Property, plant and equipment
1,350
1,300
Investment in associates company
1,000
900
Inventory
900
500
Trade receivables
500
700
Bank
300
150
4,050
3,550
Ordinary shares of RM1 each
2,500
2,500
Retained profits
560
260
Non-controlling interest
590
490
Trade payables
400
300
4,050
3,550
Consolidated Statement of Comprehensive Income
for the year ended 31 December 2020
2020
RM'000
Profit
495
Share of profits of associate company (less impairment of
goodwill)
130
Profit before tax
625
Тах
(50)
Profit after tax
575
Profit after tax attributable to:
Equity holders of parent company
425
Non-controlling interest
150
575
Additional information:
i. Tax charge for the year has been paid.
ii. Group depreciation on property, plant and…
The financial statements of Company Permanent and its subsidiary Company Senior are shown below.
Statement of Financial Position As at 31 December 2019:
Permanent
Senior
$
$
Investment in Senior
450,000
-
Other net assets
4,653,400
605,550
5,103,400
605,550
Share capital
2,350,000
300,000
Retained earnings
2,753,400
305,550
5,103,400
605,550
Income Statement and Partial Statement of Changes in Equity For the Year Ended 31 December 2019
Permanent
Senior
$
$
Sales
10,000,000
3,300,000
Cost of sales
(9,000,000)
(3,139,450)
Dividend income from Senior
24,000
-
Profit before tax
1,024,000
160,550
Tax
(220,000)
(35,000)
Profit after tax
804,000
125,550
Retained earnings, 1 January 2019
2,050,000
210,000
Dividends declared
(100,600)…
The financial statements of Company Permanent and its subsidiary Company Senior are shown below.
Statement of Financial Position As at 31 December 2019:
Permanent
Senior
$
$
Investment in Senior
450,000
-
Other net assets
4,653,400
605,550
5,103,400
605,550
Share capital
2,350,000
300,000
Retained earnings
2,753,400
305,550
5,103,400
605,550
Income Statement and Partial Statement of Changes in Equity For the Year Ended 31 December 2019
Permanent
Senior
$
$
Sales
10,000,000
3,300,000
Cost of sales
(9,000,000)
(3,139,450)
Dividend income from Senior
24,000
-
Profit before tax
1,024,000
160,550
Tax
(220,000)
(35,000)
Profit after tax
804,000
125,550
Retained earnings, 1 January 2019
2,050,000
210,000
Dividends declared
(100,600)…
Chapter 2 Solutions
Advanced Accounting
Ch. 2 - Prob. 1QCh. 2 - Describe the concept of a synergy. What are some...Ch. 2 - Prob. 3QCh. 2 - What does the term consolidated financial...Ch. 2 - Within the consolidation process, what is the...Ch. 2 - Prob. 6QCh. 2 - Prob. 7QCh. 2 - Prob. 8QCh. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Prob. 11QCh. 2 - Prob. 12QCh. 2 - Which of the following does not represent a...Ch. 2 - Prob. 2PCh. 2 - Prob. 3PCh. 2 - Prob. 4PCh. 2 - Prob. 5PCh. 2 - Prob. 6PCh. 2 - Prob. 7PCh. 2 - When does gain recognition accompany a business...Ch. 2 - Prob. 9PCh. 2 - Prob. 10PCh. 2 - Prob. 11PCh. 2 - On June 1, Cline Co. paid 800,000 cash for all of...Ch. 2 - On May 1, Donovan Company reported the following...Ch. 2 - Prob. 14PCh. 2 - Prob. 15PCh. 2 - Prob. 16PCh. 2 - Prob. 17PCh. 2 - On its acquisition-date consolidated balance...Ch. 2 - On its acquisition-date consolidated balance...Ch. 2 - Prob. 20PCh. 2 - Prob. 21PCh. 2 - Prob. 22PCh. 2 - The following book and fair values were available...Ch. 2 - Prob. 24PCh. 2 - Prob. 25PCh. 2 - Prob. 26PCh. 2 - Prob. 27PCh. 2 - Prob. 28PCh. 2 - SafeData Corporation has the following account...Ch. 2 - Prob. 34PCh. 2 - Prob. 35PCh. 2 - Prob. 39APBCh. 2 - Prob. 40APB
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