ADVANCED ACCT CUSTOM W/CONNECT
14th Edition
ISBN: 9781307697711
Author: Hoyle
Publisher: MCG/CREATE
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Chapter 2, Problem 20P
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 amount of assets reported in the consolidated balances sheet on December 31, 2020.
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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…
based on the information in the picture, In the consolidated statement of comprehensive income for the year ended December 31, 2021, how much is the consolidated net income attributable to the controlling interest?
a. 1,980,000
b. 1,860,000
c. 1,830,000
d. 1,760,000
Selected information from the separate and consolidated income statements of CHAELISA LTD.and as subsidiary, JENSOO INC. for the year ended December 31, 2021 are as follows:
CHAELISA LTD. JENSOOINC.
ConsolidatedSales P600,000 P420,000 P924,000COGS 450,000 330,000 693,000Gross profit P150,000 P 90,000 P231,000
During 2021, CHAELISA LTD. sold goods to JENSOO INC. at the same mark-up on cost that CHAELISA LTD. uses for all sales. At December 31, 2021, JENSOO INC. had not paid all of these goods and still held 37.5% of them in inventory.
Compute for the original cost of goods in JENSOO INC.’s inventory acquired from Apple.
Chapter 2 Solutions
ADVANCED ACCT CUSTOM W/CONNECT
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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