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Consolidated statement

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Consolidated statement

  • This topic has 2 replies, 3 voices, and was last updated 10 months ago by adilomax.
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  • February 21, 2022 at 8:43 am #649039
    Annora
    Member
    • Topics: 7
    • Replies: 5
    • ☆

    Hi Sir, the following question is from BPP, and I have no idea how to answer the question, please suggest. Thank you!

    Premier Co acquired 80% of Sanford Co on 1 June 20X1. Sales from Sanford Co to Premier Co throughout the year ended 30 September 20X1 were consistently $1 million per month. Sanford Co made a mark-up on cost of 25% on these sales. At 30 September 20X1 Premier Co was holding $2 million inventory that had been supplied by Sanford Co in the post-acquisition period.By how much will the unrealised profit decrease the profit attributable to the non-controlling interest for the year ended 30 September 20X1?

    February 21, 2022 at 11:48 am #649061
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1580
    • ☆☆☆☆☆

    This forum is primarily designed for students to help one another. If you want the tutor to answer a question directly please ask on following forum –

    https://opentuition.com/forum/ask-acca-tutor-forums/

    Hope this helps.

    March 11, 2022 at 4:12 pm #651033
    adilomax
    Member
    • Topics: 0
    • Replies: 3
    • ☆

    Amount to be reduced from Non-Controlling Interest:

    $2000000 x 25/125 x 20% = $80000

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