[celineam]

I understand. Thank you!

[celineam]

Thank you!

[celineam]

Thank you.

[celineam]

I understand completely. Thank you.

[celineam]

Sorry about that. This is the question I am referring to.

Tin Co acquired 90% of the equity share capital of Drum Co on 1 April 20X3. The following information relates to the financial year to 31 December 20X3 for each company.

Retained earnings at 1 January 20X3
Tin Co. 840,000
Drum Co. 170,000

Profit for the year
Tin Co. 70,000
Drum Co. 60,000

Retained earnings at 31 December 20X3
Tin Co. 910,000
Drum Co. 230,000

Neither company paid any dividends during the year.

What profit is attributable to the parent company in the consolidated income statement of the Tin Group for the year to 31 December 20X3?

A. $124,000
B. $110,500
C. $115,000
D. $83,500

[Author]

Posts