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  • Prodigal Co. 000$ W Nci Statement of Profit & Loss & Comprihensive Income

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    Muhammad Mahmood
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    Prodigal Co. reported revenues of $530,000 with cost of sales of $278,800, resulting in a gross profit of $251,200. After distribution and administrative expenses, profit before tax was $181,000. With taxes of $61,900, profit after tax was $119,100, of which $7,550 was attributable to non-controlling interests, leaving $115,550 for parent shareholders. Other comprehensive income included a gain on revaluation of $1,000 and an excess depreciation adjustment of $200, partially offset by a loss on fair value of investments of $200 and an unrealized pension loss of $3,000, totaling other comprehensive income of

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    It is the solution to the Question from BPP F7

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    Prodigal Co

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    Prodigal Co. reported revenues of $530,000 with cost of sales of $278,800, resulting in a gross profit of $251,200. After distribution and administrative expenses, profit before tax was $181,000. With taxes of $61,900, profit after tax was $119,100, of which $7,550 was attributable to non-controlling interests, leaving $115,550 for parent shareholders. Other comprehensive income included a gain on revaluation of $1,000 and an excess depreciation adjustment of $200, partially offset by a loss on fair value of investments of $200 and an unrealized pension loss of $3,000, totaling other comprehensive income of

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    © All Rights Reserved
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    20 views2 pages

    Prodigal Co. 000$ W Nci Statement of Profit & Loss & Comprihensive Income

    Uploaded by

    Muhammad Mahmood
    Prodigal Co. reported revenues of $530,000 with cost of sales of $278,800, resulting in a gross profit of $251,200. After distribution and administrative expenses, profit before tax was $181,000. With taxes of $61,900, profit after tax was $119,100, of which $7,550 was attributable to non-controlling interests, leaving $115,550 for parent shareholders. Other comprehensive income included a gain on revaluation of $1,000 and an excess depreciation adjustment of $200, partially offset by a loss on fair value of investments of $200 and an unrealized pension loss of $3,000, totaling other comprehensive income of

    Copyright:

    © All Rights Reserved
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    of 2

    Prodigal Co.

    000$ W NCI
    Statement of Profit & Loss & Comprihensive Income
    PAT
    Revenue 530000 excess dep
    COS 278800 URP
    GP 251200 Total
    Distribution 29600 NCI Share
    Admin 38500
    Fin. Cost 2100

    PBT 181000
    Tax 61900
    PAT 119100
    NCI Share 7550
    Parent Share 111550

    OCI
    B/F 33000
    Gain on revaluation 1000
    Loss on FV of inv. In equity ins. -200
    excess dep. 200
    URP -3000
    TOTAL 31000
    W1 Goodwill 000$
    Consideration 320000
    33000 FV of NCI at acq. 100000
    200 FV of sub net assets at acq
    -3000 S.Cap 160000
    30200 Re Inv in equity 2000
    7550 RE 158000
    Goodwill 100000

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